Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 13/08/2018

Updated: 09:00

SGX-NF: 11365 (-70; -0.61%)                        

Expected BNF opening: 27970 (-185; -0.65%)

SPX-500: 2824 (-13; -0.45%)

Fut-I (Key Technical Levels)

Support for NF:

11340*/11315-11270/11210-11175/11105-11070/11000

Resistance to NF:

11375/11415*-11465/11485-11515/11550-11585/11605

Support for BNF:

27900/27700*-27500/27400-27250/27100-27000/26750

Resistance to BNF:

28150/28300*-28450/28525-28685/28800-29100/29215

Support for SPX-500:

2815*/2790-2760/2740-2710/2695-2670/2650

Resistance to SPX-500:

2840*/2865-2880/2905-2925/2960-3010/3035

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

Technically, Nifty Fut-I (NF) has to sustain over 11415 for a further rally to 11465/11485-11515/11550-11585/11605 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11395-11375 NF may fall to 11340/11315-11270/11210-11175/11105 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 28300 for a further rally to 28450/28525-28685/28800-29100/29215 in the near term (under bullish case scenario).

On the flip side, sustaining below 28250-28150, BNF may fall to 27900/27700-27500/27400-27250/27100 in the near term (under bear case scenario).

Technically, SPX-500 has to sustain over 2840 for a further rally to 2865/2880-2905/2925-2960-3010/3035 in the near term (under bullish case scenario).

On the flip side, sustaining below 2830 SPX-500 may fall to 2815/2790-2760/2740-2710/2695 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 11429; Q4FY18 EPS: 402; Q4FY18 PE: 28.45; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 28125; Q4FY18 EPS: 519; Q4FY18 PE: 54.19; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2833; TTM Q4-2017 EPS: 111; TTM PE: 25.52

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