*Updated: 08:25*
*
*
SGX-NF: 10535 (-20; -0.19%)
Expected BNF opening: 25785 (-0.20%)
SPX-500: 2717 (-9; -0.32%)
*Fut-I (Key Technical Levels)*
*
*
Support for NF:
10485*/10450-10425/10395-10345/10280-10245/10170
Resistance to NF:
10585*/10605-10650/10700-10740/10800-10875/10935
Support for BNF:
25600*/25400-25300/25100-24950/24700-24550/24300
Resistance to BNF:
25850*/26050-26200/26350-26600/26700-26825/26950
Support for SPX-500:
2715/2695*-2675/2655-2625/2610
Resistance to SPX-500:
2740/2750*-2775/2805-2820/2855
*Technical View (Nifty, Bank Nifty, SPX-500):*
Technically, Nifty Fut-I (NF) has to sustain over 10605 for a further
rally towards 10650/10700-10740/10800-10875/10935 in the short term
(under bullish case scenario).
On the flip side, sustaining below 10585-10555 NF may fall towards
10485/10450-10425/10395-10345/10280 in the short term (under bear case
scenario).
Technically, Bank Nifty-Fut (BNF) has to sustain over 26050 for a
further rally towards26200/26350-26600/26700-26825/26950in the near term
(under bullish case scenario).
On the flip side, sustaining below 26000-25950/25850 BNF may fall
towards 25600/25400-25300/25100-24950/24700 in the near term (under bear
case scenario).
Technically, SPX-500 now has to sustain over 2750 for a further rally
towards2775/2805-2820/2855 and further 2880-2895in the near term (under
bullish case scenario).
On the flip side, sustaining below 2740, SPX-500 may fall towards
2725/2715 and2695/2675-2655/2625 and further 2610-2590in the near term
(under bear case scenario).
*Valuation metrics:*
*
*
Nifty-50: 10537; Q3FY18 EPS: 403; Q3FY18 PE: 26.15; Avg FWD PE: 20; Proj
FY-18 EPS: 418; Proj Fair Value: 8360
Bank Nifty: 25810; Q3FY18 EPS: 807; Q3FY18 PE: 32.02; Avg FWD PE: 20;
Proj FY-18 EPS: 961; Proj Fair Value: 19220
SPX-500: 2724; TTM Q4-2017 EPS: 111; TTM PE: 24.54
*Note:*Flat to a negative opening on muted global cues after renewed
concern about US-China “trade war” and US-NK “nuke war” as Trump
virtually blamed China for the sudden change of stance by Kim of North
Korea and taunted China President Xi as a “world-class poker player”.
Overnight US market plunged in last 30 minutes of trading after Trump
said he's not happy with China trade talks and North Korea summit may
not happen on 12^th June and may further delay or may not happen at all.
For the Indian market, oil is going to be a big headwind. Although Brent
Crude is not sustaining above $80 due to increasing OPEC squabbling
about higher production (supply) to counter the Venezuelan shortfall and
any likely supply disruption from Iran in future as a result of Trump
(US) sanctions, the Indian CAD is already under pressure on dual
combination of higher oil and higher USD.
The Indian government may soon cut additional excise duty on petrol and
diesel to counter growing public and political unrest for higher fuel
prices and higher inflation. But this may be a double whammy for the
government, as the additional taxes of fuels may have also helped it to
report a decent fiscal deficit figure of 3.5% of GDP. Thus the fiscal
discipline may continue to haunt the market in the coming days. As
India’s growth story is largely dependent on government capex and
consumption, any drastic fall in fiscal revenue may also result in muted
economic activity (GDP) in the days ahead.
GLOBAL MARKET ANALYSIS: <https://www.iforex.in/news>
FOLLOW ME: TWITTER.COM/ASISIIFL
<https://2.bp.blogspot.com/-cHJXRi3jFQY/WwToWymekeI/AAAAAAAAQC4/XeRwnkcvmqgH5Usq2nzftXBiZ-Aeh826QCLcBGAs/s1600/SGX-NF-PATTERN-22-05-2018.png>
SGX-NF
<https://4.bp.blogspot.com/-cJgUMJ06Hh0/WwToaqcXepI/AAAAAAAAQC8/JKOm4Wnod4gpoUnUAfUhHstpnmj_rgXlACLcBGAs/s1600/BNF-PATTERN-22-05-2018.png>
BNF
<https://3.bp.blogspot.com/-J_PcPAIjQUo/WwToeZ02j6I/AAAAAAAAQDA/mFDiB2bqktkQvW6mfpK9ytkgJ-2joLpBgCLcBGAs/s1600/SPX-500-PATTERN-22-05-2018.png>
SPX-500
<https://3.bp.blogspot.com/-j1sPBVKSqJ8/WwTolKaUCcI/AAAAAAAAQDE/bOUCXpgMmzIjaRbT1friEi6TLGSQ-jnGQCLcBGAs/s1600/USDJPY-PATTERN-22-05-2018.png>
USDJPY
--
Kindly email stock reports at
STOCKRESEARCHER@googlegroups.com
For sharing knowledge
-- NIFTYVIEWS.COM NOW A FREE OPEN SOURCE WEBSITE.
http://www.niftyviews.com/
Disclaimer :-
"The opinions expressed by the members on this board are based on
their individual experience and perceptions and to share information
with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of
www.Niftyviews.com just provide a platform for the authors to express their opinion
and take no guarantee for the genuineness of the same."ANY member of this forum
doesnt prepare or publish any research report; or ii. provide research report; or
iii. make 'buy/sell/hold' recommendation; or iv. give price target;
---
You received this message because you are subscribed to the Google Groups "Niftyviews.com" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to stockresearcher+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
