-------- Forwarded Message --------
Subject: Axis Bank: Q1 Result In Line With Estimates Except NPA--Next
Upside Only Abv 590 For 615-655, Otherwise 550-505 Again
Date: Wed, 05 Aug 2015 09:41:21 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
To: undisclosed-recipients:;
_*Technical Analysis (Time & Price Action):*_
Axis Bank (CMP:580) has to sustain at least over 585-590 for an
immediate to short term target of 600-605 & 615-625*. Sustaining above
625, it may target 635-645-655 in the medium term and only consecutive
closing above 655*, Axis Bank might scale 700-750 &785-800 zone
(FY:16-18 under bullish case scenario).
On the flip side, failure to sustain above 590, Axis Bank may face some
selling pressure and might fall towards 571-567 & 561-550. Sustaining
below 550, it may further fall to 537-526-513-505 & 488-480 territory in
the near term (bear case scenario).
_*Technical Trading Levels (Positional):*_
SL</>5 FROM SLR
AXIS BK CMP 580
T1 T2 T3 T4 T5 T6 T7 SLR
Strong > 590 605 615 625* 635 645 655*
685-700 <585
Weak < 585 567 561 550* 537 526 513
505-480 >590
_*Some News Inputs:*_
Q1FY16 result of Axis Bank was in line with street estimates as far as
top & bottom lines are concerned. But bad loans (stressed assets/NPA)
surged unexpectedly by nearly three times (YOY) and nearly two times
from last QTR (Q4FY15). This shows bad loans can continue to hunt Indian
Banking system for some time to come considering an efficient bank like
Axis's growing NPA woes.
Looking ahead, widespread economic recovery is being expected by many
analysts in H2FY16 and if that happens in reality, stressed assets of
Indian Banking system should decline sequentially and Axis Bank might be
also one of the beneficiary of the same.
Also, yesterday's concall with RBI Gov is some what in dovish line & a
rate cut in Sep'15 (out of policy meet) can;t be ruled out. Although
there are many caveats and RBI may act in Sep, only Fed began hiking.
Otherwise, Fed will wait for Dec and RBI may cut only in Oct by 0.25% to
wait for Fed action in Dec.
_*Techno Funda Valuation As Par BG Metrics (Modified):*_
Current median valuation: 615
Projected fair valuation: 660-730-800 (FY:16-18)
SCRIP EPS(TTM) BV(Act) P/E(AVG) LONG TERM SHORT TERM MEDIAN
VALUE 200-DEMA 10-DEMA
AXISBANK 32.28 188.07 21.19 600.13 627.57 613.85 526.53 575.79
AXISBANK 37.05 218.25 21.19 642.94 672.34 657.64 526.53 575.79
AXISBANK 45.21 253.25 21.19 710.22 742.70 726.46 526.53 575.79
AXISBANK 54.15 293.95 21.19 777.28 812.82 795.05 526.53 575.79
_*Technical Charts:*_
<http://3.bp.blogspot.com/-Asdl8JbQlP4/VcGGhwTTcXI/AAAAAAAADrM/h2DXGbLYO4g/s1600/AXIS-04-08-2015.png>
<http://4.bp.blogspot.com/-9e6xLtDa5k0/VcGGjIbYAdI/AAAAAAAADrU/hxgyTZPb-2E/s1600/AXIS-FIBB-04-08-2015.png>
<http://2.bp.blogspot.com/-csB6itZBIQU/VcGGnjlmduI/AAAAAAAADrg/7VmB5cHVnvs/s1600/AXIS-WK-04-08-2015.png>
<http://2.bp.blogspot.com/-9M8WLqed9ZA/VcGGqi_0f-I/AAAAAAAADrs/YWLQibbBTmM/s1600/AXIS-PATTERN-04-08-2015.png>
<http://3.bp.blogspot.com/-hLEIHKLKIyw/VcGGs2IVjCI/AAAAAAAADr0/QqYwIuJcKXc/s1600/AXIS-PATTERN-ST-04-08-2015.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
--
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.
