Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 10/08/2018

Updated: 09:15

SGX-NF: 11475 (-10; -0.09%)                        

Expected BNF opening: 28315 (-30; -0.10%)

SPX-500: 2850 (-4; -0.13%)

Fut-I (Key Technical Levels)

Support for NF:

11445/11415*-11380/11350-11315/11285-11225/11175

Resistance to NF:

11510/11550*-11585/11605-11665/11695-11725/11790

Support for BNF:

28300/28150*-28050/27900-27825/27700-27500/27300

Resistance to BNF:

28450/28525-28685/28800-29100/29215-29415/29690

Support for SPX-500:

2850/2830*-2815/2790-2760/2740-2710/2695

Resistance to SPX-500:

2865/2880*-2905/2925-2960/3010-3035/3070

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

Technically, Nifty Fut-I (NF) has to sustain over 11510 for a further rally to 11550/11585-11605/11665-11695/11725 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11495-11475 NF may fall to 11445/11415-11380/11350-11315/11285 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 28450 for a further rally to 28525/28685-28800/29100-29215/29415 in the near term (under bullish case scenario).

On the flip side, sustaining below 28400 BNF may fall to 28300/28150-28050/27900-27825/27700 in the near term (under bear case scenario).

Technically, SPX-500 has to sustain over 2865 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 2830/2815-2790/2760-2740/2710 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 11471; Q4FY18 EPS: 402; Q4FY18 PE: 28.53; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 28320; Q4FY18 EPS: 519; Q4FY18 PE: 54.57; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2854; TTM Q4-2017 EPS: 111; TTM PE: 25.71

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