*Updated: 08:00*
*SGX-NF: 10750 (-34; -0.32%)*
*Expected BNF opening: 25555 (-0.35%)*
*SPX-500: 2648 (-4; -0.15%)*
*(Gap-down opening on subdued global cues amid concern of a hawkish
Fed/multiple rate hikes and report of Muller subpoena probability for
Trump related to the ongoing Russian link investigation)*
*Fut-I (Key Technical Levels)*
*Support for NF:***
**
*10710*/10680-10640/10590-10550/10490*
**
*Resistance to NF:***
**
*10800/10840*-10870/10900-10930/10975***
**
*Support for BNF:***
**
*25400/25150-25000/24800-24700/24550***
**
*Resistance to BNF:***
**
*25675*/25775-25850/25915-26050/26150*
**
*Support for SPX-500: *
**
*2630/2610-2595/2575-2550/2525*
**
*Resistance to SPX-500:*
**
*2665/2685-2705/2730-2750/2765*
**
*Technical View (Positional-Nifty, Bank Nifty, SPX-500):*
*Technically, Nifty Fut-I (NF) has to sustain over 10800 for a further
rally towards 10840/10870-10900/10930 in the short term (under bullish
case scenario). ***
**
*On the flip side, sustaining below 10780 NF may fall towards
10710/10680-10640/10590 in the short term (under bear case scenario).***
**
*Technically, Bank Nifty-Fut (BNF) has to sustain over 25675 for a
further rally towards 25775/25850-25915/26050 in the near term (under
bullish case scenario).***
**
*On the flip side, sustaining below 25625, BNF may fall towards
25400/25150-25000/24800 in the near term (under bear case scenario).*
**
*Technically, SPX-500 now has to sustain over 2685 for a further rally
towards 2705/2730-2750/2765 in the near term (under bullish case scenario).*
**
*On the flip side, sustaining below 2665, SPX-500 may fall towards
2630/2610-2595/2575 in the near term (under bear case scenario).*
*
*
*Valuation metrics:*
*Nifty-50: 10739; Q3FY18 EPS: 403; Q3FY18 PE: 26.65; Avg FWD PE: 20;
Proj FY-18 EPS: 418; Proj Fair Value: 8360*
*Bank Nifty: 25395; Q3FY18 EPS: 807; Q3FY18 PE: 31.47; Avg FWD PE: 20;
Proj FY-18 EPS: 961; Proj Fair Value: 19220*
*SPX-500: 2655; Q4-2017 EPS: 111; TTM PE: 23.92*
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