Updated: 09:00
SGX-NF:
11430 (+9; +0.08%)
Expected BNF opening: 28000 (+42; +0.15%)
SPX-500: 2851 (+1; +0.05%)
Fut-I (Key Technical Levels)
Support for NF:
11405/11370*-11340/11300-11270/11225-11175/11125
Resistance to NF:
11475/11500*-11535/11585-11605/11665-11695/11725
Support for BNF:
27825/27625*-27525/27425-27300/27150-27000/26850
Resistance to BNF:
28050/28175*-28300/28450-28525/28685-28800/29100
Support for SPX-500:
2850/2830*-2815/2790-2760/2740-2710/2695
Resistance to SPX-500:
2860/2880*-2905/2925-2960/3010-3035/3070
Technical
View (Nifty, Bank Nifty, SPX-500):
Technically, Nifty Fut-I (NF) has to sustain over 11475 for a
further rally to 11500/11535-11585/11605-11665/11695 in the near term (under
bullish case scenario).
On the flip side, sustaining below 11455 NF may fall to 11405/11370*-11340/11300-11270/11225
in the near term (under bear case scenario).
Technically, Bank Nifty Fut-I (BNF) has to sustain over 28050
for a further rally to 28175/28300-28450/28525-28685/28800 in the near term (under
bullish case scenario).
On the flip side, sustaining below 28000 BNF may fall to 27825/27625-27525/27425-27300/27150
in the near term (under bear case scenario).
Technically, SPX-500 has to
sustain over 2860 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
2850 SPX-500 may fall to 2830/2815-2790/2760-2740/2710 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
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