Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 24/07/2018

Updated: 09:30

SGX-NF: 11130 (+35; +0.31%)

Expected BNF opening: 27160 (+95; +0.35%)

SPX-500: 2818 (+6; +0.22%)

Fut-I (Key Technical Levels)

Support for NF:

11095/11060*-11000/10980-10915/10880-10855/10825

Resistance to NF:

11150/11190*-11230/11275-11305/11355-11385/11415

Support for BNF:

27200/27050*-26900/26750-26600/26350-26100/26000

Resistance to BNF:

27250*/27455-27675/27785-27935/28150-28300/28450

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 11150 for a further rally to 11190/11230-11275/11305-11355/11385 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11130-11115/11095 NF may fall to 11060/11000-10980/10915-10880/10855 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27250 for a further rally to 27455/27675-27785/27935-28150/28300 in the near term (under bullish case scenario).

On the flip side, sustaining below 27200 BNF may fall to 27050/26900-26750/26600-26350/26100 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: 11085; Q4FY18 EPS: 402; Q4FY18 PE: 27.57; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 27008; Q4FY18 EPS: 519; Q4FY18 PE: 52.04; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2807; TTM Q4-2017 EPS: 111; TTM PE: 25.29

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NIFTY-SGX-NF

BANK NIFTY=BNF

SPX-500

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