Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 20/08/2018

Updated: 10:30

Nifty-SGX-NF: 11550 (+63; +0.55%)              

Bank Nifty-BNF: 28335 (+165; +0.58%)

SPX-500: 2851 (-1; -0.04%)

Fut-I (Key Technical Levels)

Support for NF:

11505/11485*-11445/11415-11370/11315-11265/11225

Resistance to NF:

11585/11605*-11665/11695-11725/11790-11825/11900

Support for BNF:

28300/28175*-28000/27825-27640/27400-27250/27000

Resistance to BNF:

28450/28525*-28685/28800-29050/29115-29275/29425

Support for USDINR-I:

69.90*/69.60-69.35/69.15-68.85/68.15-67.75/67.50

Resistance to USDINR-I:

70.55*/71.00-71.30/71.50-71.75/72.05-72.50/73.25

Support for SPX-500:

2840/2815*-2800/2790-2770/2735-2720/2695

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 11605 for a further rally to 11665/11695-11725/11790-11825/11900 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11585-11565 NF may fall to 11505/11485-11445/11415-11370/11315 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 28450 for a further rally to 28525/28685-28800/29050-29115/29275 in the near term (under bullish case scenario).

On the flip side, sustaining below 28400-28375/28300 BNF may fall to 28175/28000-27825/27640-27400/27250 in the near term (under bear case scenario).

Technically, USDINR-I has to sustain over 70.55 for a further rally to 71.00/71.30-71.50/71.75-72.05/72.50 in the near term (under bullish case scenario).

On the flip side, sustaining below 72.35, USDINR-I may fall to 69.90/69.60-69.35/69.15-68.85/68.15 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 2855 SPX-500 may fall to 2840/2815-2800/2790-2770/2735 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: 28129; Q4FY18 EPS: 519; Q4FY18 PE: 54.20; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2850; TTM Q4-2017 EPS: 111; TTM PE: 25.68

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