Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 06/07/2018

Updated: 09:15

SGX-NF: 10740 (-20; -0.19%)

Expected BNF opening: 26430 (-53; -0.20%)

SPX-500: 2739 (+0.25; +0.01%)

Fut-I (Key Technical Levels)

Support for NF:

10690/10660*-10625/10565-10525/10490-10440/10400

Resistance to NF:

10785/10805*-10840/10885*-10905/10955-10985/11025

Support for BNF:

26300/26200-26050*/25900-25700/25550-25400/25100

Resistance to BNF:

26575/26650-26850*/26950-27050/27150-27250/27500

Support for SPX-500:

2710/2700-2690*/2670-2635/2605-2590/2575

Resistance to SPX-500:

2750*/2770-2795/2810-2835/2855-2880/2905

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

Technically, Nifty Fut-I (NF) has to sustain over 10805 for a further rally to 10840/10885-10905/10955-10985/11025 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10785 NF may fall to 10735/10690-10660/10625-10565/10525 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 26575 for a further rally to 26650/26850-26950/27050-27150/27250 in the near term (under bullish case scenario).

On the flip side, sustaining below 26525 BNF may fall to 26300/26200-26050/25900-25700/25550 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2750 for a further rally to 2770/2795-2810/2835-2855/2880 in the near term (under bullish case scenario).

On the flip side, sustaining below 2740 SPX-500 may fall to 2710/2700-2690/2670-2635/2605 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10750; Q4FY18 EPS: 395; Q4FY18 PE: 27.22; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26503; Q4FY18 EPS: 766; Q3FY18 PE: 34.60; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2737; TTM Q4-2017 EPS: 111; TTM PE: 24.66

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

CRUDE OIL-WTI