Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 16/08/2018

Updated: 09:30

SGX-NF: 11410 (-55; -0.48%)                        

Expected BNF opening: 27940 (-140; -0.50%)

SPX-500: 2830 (+8; +0.30%)

Fut-I (Key Technical Levels)

Support for NF:

11415/11380*-11315*/11265-11210/11175-11130/11105

Resistance to NF:

11445/11485*-11515*/11550-11585/11605-11665/11695

Support for BNF:

27825/27650*-27500/27300-27150/27000-26900/26750

Resistance to BNF:

28100/28175*-28300/28450-28525/28685-28800/29100

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 11485 for a further rally to 11515/11550-11585/11605-11665/11695 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11465-11445 NF may fall to 11415/11380-11315/11265-11210/11175 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 28175 for a further rally to 28300/28450-28525/28685-28800/29100 in the near term (under bullish case scenario).

On the flip side, sustaining below 28125-28100, BNF may fall to 27825/27650-27500/27300-27150/27000 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: 11435; Q4FY18 EPS: 402; Q4FY18 PE: 28.45; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 28022; Q4FY18 EPS: 519; Q4FY18 PE: 54.00; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2818; TTM Q4-2017 EPS: 111; TTM PE: 25.39

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