-------- Forwarded Message --------
Subject: Axis Bank: Need To Stay Above 450-470 Zone For More Rally
Date: Thu, 31 Mar 2016 09:19:19 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
Technically, Axis Bank has to sustain above 450-470 zone for more rally
up to 490-535 zone; otherwise it may face selling pressure and sustain
below 437-427 may again fall up to 411-374 area in the near term.
*Trading Idea: Axis Bank**
**
**CMP: 444**
**
**Either sell below 450-460 or in rise around 470-490;**
**
**TGT1: 427-411*-405-387-374-365* (1-3/6M)**
**
**TGT2: 348-325*-310-290*-275-265 (12M)**
**
**TSL>500**
**
**Note: Consecutive closing (3 days) above 500 for any reason, Axis Bank
may further rally up to 520-535* & 570-625*-655 in the near to long term
(alternative bullish case scenario from the current trading level).**
*
Although there may be no disclosure issue about Q4FY16 asset quality
issues this time (stressed assets provisions-RBI- AQR), some analysts
are expecting incremental higher provision and consequent higher credit
costs by around 20-25%.
For Axis Bank:
Q3FY16 TTM EPS: 34.49
Projected FWD EPS: 34.65-40.50-46.75 (FY:16-18)
Average PE: 15
As par BG metrics & current market scenario:
Present median valuation may be around: 480 (Q4FY16/TTM)
Projected fair valuations might be around: 481-520-560 (FY:16-18/FWD)
SCRIP EPS(TTM) BV(Act) P/E(AVG) Low High
Median 200-DEMA 10-DEMA
AXISBANK 34.49 187.54 15 486.93 471.92 479.43
458.3 430.48
AXISBANK 34.65 217.75 15 488.06 473.01 480.54
458.3 430.48
AXISBANK 40.5 252.55 15 527.65 511.39 519.52
458.3 430.48
AXISBANK 46.75 295.75 15 566.91 549.43 558.17
458.3 430.48
Analytical Charts:
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
--
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