-------- Forwarded Message --------
Subject: ICICI Bank:Sustaining Abv 243-253 Zone May Be Very Tough Under
The Changed Scenario--
Date: Fri, 29 Jan 2016 09:09:10 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
*Immediate downside target may be 213-203*
Q3FY16 PAT is slightly below estimates supported by other income
And NII beats consensus by around 1%
But provisions rise 190% (YOY) and 202%(QOQ),
Which may be beyond any street estimates---
Thanks to RBI rule of early recognition of stressed assets
This trend may continue for the next few quarters---
*CMP: 233*
*Either sell below 230-227 or on rise around: 243-253;*
*TGT1: 217-213*-203* (1-3M)*
*
*
*TGT2:188*-180 & 160-151*-145 (6-12M)*
*TSL > 257/265* *
Note:
For ICICI Bk, 213 & 203 is a strong support and sustain below 203, more
pain come come up to 188-151 zone.
Consecutive closing above 265 for any reason, ICICI Bk may rally up to
278-285 & 300-320
in the mid to long term (alternative bullish scenario).
*
*
*As par BG metrics and current market parameters:*
(based on TTM & FWD EPS)
Present median valuation of ICICI Bk may be around: 280 (FY:15-16/TTM)
Projected fair valuations might be around: 300-315 (FY:17-18/FWD)
SCRIP EPS(TTM) BV(Act) P/E(AVG) Low High Median
200-DEMA 10-DEMA
ICICIBANK 20.43 138.37 15 292.09 268.13 280.11 278.41 234.6
ICICIBANK 20.45 151.25 15 292.24 268.26 280.25 278.41 234.6
ICICIBANK 22.95 165.65 15 309.58 284.18 296.88 278.41 234.6
ICICIBANK 25.75 183.25 15 327.93 301.02 314.47 278.41 234.6
*Analytical Charts:*
<http://3.bp.blogspot.com/-NU1vw994lzo/VqrcnsoUieI/AAAAAAAAF60/FnZ-P0IEqDE/s1600/ICICI-MON-28-01-2016.png>
<http://2.bp.blogspot.com/-fc0A99qdJ7Q/VqrcpSPu2BI/AAAAAAAAF68/n7mOqFvhr6M/s1600/ICICI-FIBB-28-01-2016.png>
<http://1.bp.blogspot.com/-h9a1AgVy-88/VqrcrA2Z6PI/AAAAAAAAF7E/ulUZa3MqQMY/s1600/ICICI-28-01-2016.png>
<http://3.bp.blogspot.com/-TNTVU4oHeso/Vqrcsrdp1tI/AAAAAAAAF7M/rKebMNstgPU/s1600/ICICI-TL-RSI-28-01-2016.png>
<http://4.bp.blogspot.com/-ZM9a0WRsIIo/VqrcwGbgGWI/AAAAAAAAF7U/sR3QwZZ34Xs/s1600/ICICI-TL-28-01-2016.png>
<http://3.bp.blogspot.com/-a57xAM95Tpo/Vqrcy7AT29I/AAAAAAAAF7c/oF87ylWJDaY/s1600/ICICI-PATTERN-28-01-2016.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
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