*Updated: 08:40*
*
*
SGX-NF: 10650 (+42; +0.40%)
Expected BNF opening: 26370 (+0.50%)
SPX-500: 2729 (+11; +0.41%)
*Fut-I (Key Technical Levels)*
*
*
Support for NF:
10630/10605*-10570/10535-10490/10405-10365/10340
Resistance to NF:
10655/10675*-10720/10750-10800/10875-10935/10955
Support for BNF:
26300/26125*-26050/25900-25800/25600-25500/25400
Resistance to BNF:
26425/26475-26550*/26650-26825/26950-27050/27250
Support for SPX-500:
2715/2695*-2675/2655-2625/2610
Resistance to SPX-500:
2745/2760*-2775/2805-2820/2855
*Technical View (Nifty, Bank Nifty, SPX-500):*
Technically, Nifty Fut-I (NF) has to sustain over 10675 for a further
rally to 10720/10750-10800/10875-10935/10955 in the near term (under
bullish case scenario).
On the flip side, sustaining below 10655 NF may fall to
10630/10605-10570/10535-10490/10405-10365/10340
in the near term (under bear case scenario).
Technically, Bank Nifty-Fut (BNF) has to sustain over 26475 for a
further rally to26550/26650-26825/26950-27050/27250in the near term
(under bullish case scenario).
On the flip side, sustaining below 26425 BNF may fall to
26300/26125-26050/25900-25800/25600in the near term (under bear case
scenario).
Technically, SPX-500 now has to sustain over 2760 for a further rally
to2775/2805-2820/2855-2880/2895in the near term (under bullish case
scenario).
On the flip side, sustaining below 2745, SPX-500 may fall to
2725/2715-2695/2675-2655/2625in the near term (under bear case scenario).
*Valuation metrics:*
*
*
Nifty-50: 10605; Q3FY18 EPS: 403; Q3FY18 PE: 26.31; Avg FWD PE: 20; Proj
FY-18 EPS: 418; Proj Fair Value: 8360
Bank Nifty: 26265; Q3FY18 EPS: 807; Q3FY18 PE: 32.55; Avg FWD PE: 20;
Proj FY-18 EPS: 961; Proj Fair Value: 19220
SPX-500: 2721; TTM Q4-2017 EPS: 111; TTM PE: 24.51
*Note:*Positive opening on upbeat global cues amid increasing hopes of a
North Korean truce and some fall in bond yields. For the Indian market,
apart from the 4^th anniversary of the NAMO government, risk-on
sentiment was boosted by plunge in oil of more than 7% in the last few
days amid OPEC-NOPEC/Russian squabbling about increase of oil output
(compliance level from 152% to 100%) and a doubt about the production
extension agreement beyond Dec’2018.
GLOBAL MARKETS ANALYSIS: <https://www.iforex.in/news>
FOLLOW ME: TWITTER.COM/ASISIIFL
<https://1.bp.blogspot.com/-09Da-EhsZ7s/WwuCAiX9SOI/AAAAAAAAQFI/LfMgoEhF9HM6gY0XY346_DFc9A_MNNubwCLcBGAs/s1600/SGX-NF-PATTERN-25-05-2018.png>
NIFTY-SGX-NF
<https://4.bp.blogspot.com/-JRzBxsVBTxc/WwuCIuPlMmI/AAAAAAAAQFM/7cUBjjTTI-sTR3816_ydWG5nRsNI7swWwCLcBGAs/s1600/BNF-PATTERN-25-05-2018.png>
BANK NIFTY-BNF
<https://2.bp.blogspot.com/-jJsMGdNoQYs/WwuCmHwsr5I/AAAAAAAAQFY/cPkA6xx-3VswCx1UlxpyJmhlikD2KnM7gCLcBGAs/s1600/SPX-500-PATTERN-25-05-2018.png>
S&P-SPX-500
<https://4.bp.blogspot.com/-CsnYT7bZWf4/WwuCvByQ9fI/AAAAAAAAQFc/BmCsmrlUhws6bcz7ZJQz59c9dPKBPM_rwCLcBGAs/s1600/WTI-PATTERN-25-05-2018.png>
WTI/CRUDE OIL
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