Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 02/08/2018

Updated: 08:30

SGX-NF: 11345 (-5; -0.02%)                          

Expected BNF opening: 27540 (-30; -0.10%)

SPX-500: 2810 (-0.00; -0.00%)

Fut-I (Key Technical Levels)

Support for NF:

11300*/11280-11250/11225-11190/11175-11075/11010

Resistance to NF:

11385*/11425-11465/11500-11535/11585-11605/11665

Support for BNF:

27500*/27250-27150/27000-26900/26800-26600/26400

Resistance to BNF:

27650*/27850-27950/28150-28300/28450-28525/28685

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 11405-11385 NF may fall to 11300/11280-11250/11225-11190/11175 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27650 for a further rally to 27850/27950-28150/28300-28450/28525 in the near term (under bullish case scenario).

On the flip side, sustaining below 27600 BNF may fall to 27500/27250-27150/27000-26900/26800 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: 10900 (MEDIAN-3M); Q4FY18 EPS: 402; Q4FY18 PE: 27.11; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26965 (MEDIAN-3M); Q4FY18 EPS: 519; Q4FY18 PE: 51.96; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2721 (MEDIAN-3M); TTM Q4-2017 EPS: 111; TTM PE: 24.51

GLOBAL MARKETS UPDATE: iforex.in/news

FOLLOW ME: twitter.com/ASISIIFL

NIFTY-SGX-NF

BANK NIFTY-BNF

USDJPY

GBPUSD