Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 09/07/2018

Updated: 09:15

SGX-NF: 10835 (+57; +0.53%)

Expected BNF opening: 26645 (+145; +0.55%)

SPX-500: 2773 (+0.10; +0.38%)

Fut-I (Key Technical Levels)

Support for NF:

10805/10780*-10740/10700-10660/10600-10565/10525

Resistance to NF:

10865/10885*-10905/10955-10985/11025-11095/11190

Support for BNF:

26400*/26300-26200/26050-25900/25700-25550/25400

Resistance to BNF:

26600/26750-26850*/26950-27050/27150-27250/27500

Support for SPX-500:

2775/2745*-2725/2715-2700/2690-2670/2635

Resistance to SPX-500:

2785/2795*-2810/2835-2855/2880-2905/2925

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

Technically, Nifty Fut-I (NF) has to sustain over 10885 for a further rally to 10905/10955-10985/11025-11095/11190 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10865 NF may fall to 10805/10780-10740/10700-10660/10600 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 26750 for a further rally to 26850/26950-27050/27150-27250/27500 in the near term (under bullish case scenario).

On the flip side, sustaining below 26700-26600 BNF may fall to 26400/26300-26200/26050-25900/25700 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2785-2795 for a further rally to 2810/2835-2855/2880-2905/2925 in the near term (under bullish case scenario).

On the flip side, sustaining below 2775 SPX-500 may fall to 2745/2725-2715/2700-2690/2670 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10770; Q4FY18 EPS: 395; Q4FY18 PE: 27.27; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26495; Q4FY18 EPS: 766; Q3FY18 PE: 34.59; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2760; TTM Q4-2017 EPS: 111; TTM PE: 24.86

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

CRUDE OIL/WTI