Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 27/07/2018

Updated: 09:25

SGX-NF: 11240 (+40; +0.36%)

Expected BNF opening: 27535 (+100; +0.35%)

SPX-500: 2844 (+1; +0.05%)

Fut-I (Key Technical Levels)

Support for NF:

11230/11175*-11140/11110-11080/11035-10980/10915

Resistance to NF:

11275/11305-11355/11385-11415/11500-11535/11605

Support for BNF:

27400*/27200-27000/26750-26650/26500-26400/26250

Resistance to BNF:

27675*/27785-27935/28150-28300/28450-28510/28685

Support for SPX-500:

2825/2805-2790/2760-2740/2710-2695/2665

Resistance to SPX-500:

2860/2880-2905/2925-2960/3010-3035/3070

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

Technically, Nifty Fut-I (NF) has to sustain over 11275 for a further rally to 11305/11355-11385/11415-11500/11535 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11255-11230 NF may fall to 11175/11140-11110/11080-11035/10980 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27675 for a further rally to 27785/27935-28150/28300-28450/28510 in the near term (under bullish case scenario).

On the flip side, sustaining below 27625 BNF may fall to 27400*/27200-27000/26750-26650/26500 in the near term (under bear case scenario).

Technically, SPX-500 has to sustain over 2860 for a further rally to 2880/2905-2925/2960-3010/3035 in the near term (under bullish case scenario).

On the flip side, sustaining below 2850 SPX-500 may fall to 2825/2805-2790/2760-2740/2710 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 11240; Q4FY18 EPS: 402; Q4FY18 PE: 27.96; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 27590; Q4FY18 EPS: 519; Q4FY18 PE: 53.16; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2837; TTM Q4-2017 EPS: 111; TTM PE: 25.56

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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