Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 01/08/2018

Updated: 08:40

SGX-NF: 11400 (+25; +0.22%)

Expected BNF opening: 27880 (+70; +0.25%)

SPX-500: 2816 (-1; -0.05%)

Fut-I (Key Technical Levels)

Support for NF:

11375*/11330-11295/11270-11250/11195-11170/11045

Resistance to NF:

11425*/11465-11500/11535-11585/11605-11685/11705

Support for BNF:

27640/27540*-27400/27300-27150/27000-26750/26400

Resistance to BNF:

27850/27950*-28150/28300-28450/28525-28685/28800

Support for SPX-500:

2805/2790*-2760/2740-2710/2695-2665/2640

Resistance to SPX-500:

2825/2860*-2880/2905-2925/2960-3010/3035

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

Technically, Nifty Fut-I (NF) has to sustain over 11425 for a further rally to 11465/11500-11535/11585-11605/11685 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11405 NF may fall to 11375/11330-11295/11270-11250/11195 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27950 for a further rally to 28150/28300-28450/28525-28685/28800 in the near term (under bullish case scenario).

On the flip side, sustaining below 27900-27850 BNF may fall to 27640/27540-27400/27300-27150/27000 in the near term (under bear case scenario).

Technically, SPX-500 has to sustain over 2825 for a further rally to 2860/2880-2905/2925-2960/3010 in the near term (under bullish case scenario).

On the flip side, sustaining below 2815-2805 SPX-500 may fall to 2790/2760-2740/2710-2695/2665 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 11356; Q4FY18 EPS: 402; Q4FY18 PE: 28.25; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 27764; Q4FY18 EPS: 519; Q4FY18 PE: 53.50; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2816; TTM Q4-2017 EPS: 111; TTM PE: 25.37

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