Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 27/08/2018

Nifty-SGX-NF: 11685 (+113; +1.00%)             

Bank Nifty-BNF: 28275 (+370; +1.35%)

SPX-500: 2883 (+6; +0.21%)

Fut-I (Key Technical Levels)

Support for NF:

11655/11600-11580*/11520-11500/11445-11405/11345

Resistance to NF:

11685/11705-11735/11755-11790/11825-11900/11970

Support for BNF:

28100/28000*-27825/27640-27400/27250-27100/27000

Resistance to BNF:

28300/28450*-28525/28685-28800/29050-29115/29275

Support for USDINR-I:

69.35/69.15*-68.95/68.50-68.15/67.65-67.40/67.00

Resistance to USDINR-I:

69.90/70.35*-70.55/71.00-71.30/71.50-71.75/72.05

Support for SPX-500:

2860/2840*-2830/2810-2800/2790-2770/2735

Resistance to SPX-500:

2880/2890*-2905/2925-2960/3010-3035/3070

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

Technically, Nifty Fut-I (NF) has to sustain over 11705 for a further rally to 11735/11755-11790/11825-11900/11970 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11685 NF may fall to 11655/11600-11580/11520-11500/11445 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 BNF may fall to 28300/28100-28000/27825-27640/27400 in the near term (under bear case scenario).

Technically, USDINR-I has to sustain over 69.35 for a further rally to 69.90/70.35-70.55/71.00-71.30/71.50 in the near term (under bullish case scenario).

On the flip side, sustaining below 69.15, USDINR-I may fall to 68.95/68.50-68.15/67.65-67.40/67.00 in the near term (under bear case scenario).

Technically, SPX-500 has to sustain over 2890 for a further rally to 2905/2925-2960/3010-3035/3070 in the near term (under bullish case scenario).

On the flip side, sustaining below 2880 SPX-500 may fall to 2860/2840-2830/2810-2800/2790 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 11571; Q4FY18 EPS: 402; Q4FY18 PE: 28.78; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 28258; Q4FY18 EPS: 519; Q4FY18 PE: 54.45; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2862; TTM Q4-2017 EPS: 111; TTM PE: 25.78

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NIFTY-SGX-NF

BANK NIFTY-BNF

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