Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 19/07/2018

Updated: 08:30

SGX-NF: 11005 (+19; +0.17%)

Expected BNF opening: 27020 (+54; +0.20%)

SPX-500: 2816 (-0.50; -0.02%)

Fut-I (Key Technical Levels)

Support for NF:

10990/10950*-10920/10865-10810/10770-10740/10710

Resistance to NF:

11050/11085*-11115/11150-11190/11230-11275/11305

Support for BNF:

26900/26750*-26550/26400-26300/26100-26000/25800

Resistance to BNF:

27150/27250*-27455/27675-27785/27935-28150/28300

Support for SPX-500:

2805/2790*-2765/2750-2730/2705-2685/2670

Resistance to SPX-500:

2820/2835*-2855/2880-2905/2925-2960/3010

Technical View (Nifty, Bank Nifty, SPX-500):

Technically, Nifty Fut-I (NF) has to sustain over 11050 for a further rally to 11085/11115-11150/11190-11230/11275 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11030 NF may fall to 10990/10950-10920/10865-10810/10770 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27150 for a further rally to 27250/27455-27675/27785-27935/28150 in the near term (under bullish case scenario).

On the flip side, sustaining below 27100-27050 BNF may fall to 26900/26750-26550/26400-26300/26100 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2835 for a further rally to 2855/2880-2905/2925-2960/3010 in the near term (under bullish case scenario).

On the flip side, sustaining below 2820 SPX-500 may fall to 2805/2790-2765/2750-2730/2705 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10980; Q4FY18 EPS: 402; Q4FY18 PE: 27.31; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26881; Q4FY18 EPS: 519; Q4FY18 PE: 51.79; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2816; TTM Q4-2017 EPS: 111; TTM PE: 25.37

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