Market Wrap <https://www.iforex.in/news>: 14/02/2018 (17:00)
NSE-NF (Feb):10463 (-80; -0.76%)
(NS: 10501; Q2FY18 EPS: 391; Q2FY18 PE: 26.86; Abv 2-SD of 25; Avg FWD
PE: 20; Proj FY-18 EPS: 418; Proj Fair Value: 8360)
NSE-BNF (Jan):25305 (-401; -1.56%)
(BNS: 25341; Q2FY18 EPS: 867; Q2FY18 PE: 29.23; Abv 3-SD of 30; Avg FWD
PE: 20; Proj FY-18 EPS: 961; Proj Fair Value: 19220)
*For 15/02/2018: Feb-Fut (Key Technical Levels)*
Updated: 08:50 (SGX-NF: 10540); +77 points
(gap up on positive US/global cues)
Expected BNF opening: 25530
*Feb-Fut (Key Technical Levels)*
Support for NF: 10520/10480-10430/10370
Resistance for NF: 10575/10615-10675/10735
Support for BNF: 25490/25400-25250/25000
Resistance for BNF: 25875/25950-26050/26250
*Trading Idea (Positional):*
Technically, Nifty Fut-Jan (NF) has to sustain over 10615 area for
further rally towards 10675-10735 & 10785-10850 zone in the short term
(under bullish case scenario).
On the flip side, sustaining below 10595-10575 area, NF may fall towards
10520-10480 & 10430-10370 zone in the short term (under bear case scenario).
Technically, Bank Nifty-Fut (BNF) has to sustain over 25875 area for
further rally towards 25950-26050 & 26250-26550 zone in the near term
(under bullish case scenario).
On the flip side, sustaining below 25825-25775 area, BNF may fall
towards 25490/25400-25250 & 25000-24800 area in the near term (under
bear case scenario).
Indian market
<https://www.iforex.in/analysis/nifty-slips-concern-bank-loan-frauds-new-npa-restructuring-rules-49101>(Nifty
Fut-Feb/India-50) today (14^th Feb)closed around 10463, on concern of
series of bank loan frauds starting from PNB and new NPA rules by RBI;
it made a session low of 10456 after opening minutes high of 10587
onpositive global cues
<https://www.iforex.in/news/europe-may-be-green-mixed-global-cues-flat-eur-49051>.
Apart from PNB, market is concerned that several other PSBS and also
some private banks may be involved in such loan frauds.
Market is also concerned about earnings impact of the banks, especially
corporate savvy on new NPA restructuring rules
<https://www.iforex.in/news/indian-banks-may-be-under-pressure-new-rules-npa-resolution-mechanism-rbi-48993>as
they will be not able to hide the NPA under the disguise of various
restructuring schemes available earlier.
Thus, Indian market tumbled today despitelower
oil<https://www.iforex.in/news/oil-surged-eia-inventory-report-coupled-saudi-jawboning-49089>&
supportive global cues.
Overall, today Indian market was dragged by almost all the sectors like
banks & financials, specially PSBS, auto, FMCG, media, pharma while
supported by reality, infra, energies/OMC to some extent.
BTCUSD View
<https://www.iforex.in/news/bitcoin-surged-south-korean-relief-litecoin-soared-litepay-optimism-49071>:
USDJPY View
<https://www.iforex.in/news/usdjpy-tumbled-terrible-us-retail-sales-series-gdp-downgrade-despite-upbeat-cpi-49099>:
GBPUSD View
<https://www.iforex.in/analysis/gbpusd-inched-down-amid-renewed-concern-brexit-uncertainty-uk-economic-growth-49065>:
<https://2.bp.blogspot.com/-5tB2HjMsOI8/WoUFdY7daqI/AAAAAAAAO4g/MGdBfZx1U9ws96bscLkvOXPrcf0WUnUrQCLcBGAs/s1600/SGX-NF-FIBB-14-02-2018.png>
SGX-NF
<https://4.bp.blogspot.com/-slp3mAoVqEM/WoUFi6AW4EI/AAAAAAAAO4k/DJA8I2RgH_cl5KJkjSwmH7IfKLtI1ILkgCLcBGAs/s1600/BNF-FIBB-14-02-2018.png>
BNF
<https://4.bp.blogspot.com/-yYW_4tCdC78/WoUFoT9xDlI/AAAAAAAAO4o/EstNHr0vi5kOo21O3HkLYi8YM1_rW5PMwCLcBGAs/s1600/SPX-500-FIBB-14-02-2018.png>
SPX-500
<https://3.bp.blogspot.com/-Ndhg_NrBQD4/WoUGOUIQ5tI/AAAAAAAAO4s/nkDuxgrQrZcoGA99SXzWCCTSTFWiuVa6gCLcBGAs/s1600/USDJPY-FIBB-14-02-2018.png>
USDJPY
--
Thanks & Regards,
Asis Ghosh
--
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