Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 20/07/2018

Updated: 08:30

SGX-NF: 10960 (-23; -0.21%)

Expected BNF opening: 26785 (-67; -0.25%)

SPX-500: 2799 (-6; -0.22%)

Fut-I (Key Technical Levels)

Support for NF:

10930/10915*-10865/10835-10810/10750-10710/10660

Resistance to NF:

11010/11050*-11085/11115-11150/11190-11230/11275

Support for BNF:

26750*/26550-26400/26300-26100/26000-25800/25550

Resistance to BNF:

26950/27050*-27150/27250-27455/27675-27785/27935

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 11010 for a further rally to 11050/11085-11115/11150-11190/11230 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10990 NF may fall to 10930/10915-10865/10835-10810/10750 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27050 for a further rally to 27150/27250-27455/27675-27785/27935 in the near term (under bullish case scenario).

On the flip side, sustaining below 27000-26950 BNF may fall to 26750/26550-26400/26300-26100/26000 in the near term (under bear case scenario).

Technically, SPX-500 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: 10957; Q4FY18 EPS: 402; Q4FY18 PE: 27.26; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26790; Q4FY18 EPS: 519; Q4FY18 PE: 51.62; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2804; TTM Q4-2017 EPS: 111; TTM PE: 25.26

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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