-------- Forwarded Message --------
Subject: Yes Bank: Need To Sustain Above 820-835 Zone For Further Rally
Date: Mon, 14 Mar 2016 09:28:13 +0530
From: Asis Ghosh <asis...@gmail.com>
Reply-To: asis...@gmail.com
Technically, Yes bank need to sustain above 820-835 zone for further
rally up to 910-930-101;
Otherwise it may face selling pressure and sustain below 805-790 may
fall again towards 710-665 area.
*
* *Trading Idea: Yes Bank*
CMP: 800
Either sell below 805 or on rise around: 820-835;
TGT: 770-728-710*-691-665*-631 (1-3M)
TSL> 850
Note: Consecutive closing (3 days) above 850, for any reason, Yes Bank
may further rally up to 910-930 & 1015 in the near to long term
(alternative bullish case scenario).
Although Yes Bank performed quite well on the back of its retail
strength and below expected stressed assets (RBI-AQR), going ahead,
incremental average PAT growth around 25% YOY may be difficult to
maintain on the retail franchise only and deterioration of corporate
loan accounts with lack of corporate loan growth may hurt.
Retail loan volumes can't be a substitute for corporate credit growth in
the long run and when corporates are in severe stress, retail will bound
to follow it later.
As par BG metrics and current market parameters:
TTM EPS: 57.11 (FY:15)
Projected FWD EPS: 59.40-65.50-71.80 (FY:16-18)
Avg PE: 15
Present median valuation of Yes Bank may be around: 805 (FY:15/TTM)
Projected fair valuations might be around: 820-860-900 (FY:16-18/FWD)
SCRIP EPS(TTM) BV(Act) P/E(AVG) Low High Median
200-DEMA 10-DEMA
YESBANK 57.11 277.93 15 795.34 805.48 800.41 738.42 757.36
YESBANK 59.4 375.05 15 811.13 821.47 816.30 738.42 757.36
YESBANK 65.5 450.5 15 851.76 862.62 857.19 738.42 757.36
YESBANK 71.8 540.25 15 891.78 903.15 897.47 738.42 757.36
Analytical Charts:
<https://4.bp.blogspot.com/-YmB-SWgVn9o/VuYyLvOWOkI/AAAAAAAAGeE/A3n-_WE-fPocUG5nVETtGPOQH2FPrM_Wg/s1600/Yes-11-03-2016.png>
<https://4.bp.blogspot.com/-8M0QO1RT-O0/VuYyN0TcERI/AAAAAAAAGeI/nlZ0WjEfNLI39Nu6IYQrc_5weN-nuuiyg/s1600/Yes-FIBB-11-03-2016.png>
<https://1.bp.blogspot.com/-HgN8uluYNno/VuYyPRA_Q8I/AAAAAAAAGeM/oPAu1qw4NyYy8lg9SsqVuLQEXAA836WXw/s1600/Yes-WK-11-03-2016.png>
<https://3.bp.blogspot.com/-3dWP6FM_ELE/VuYyRp00SPI/AAAAAAAAGeQ/n48vZPal4ZkhIPaVj_7DzO1VIob95IOhA/s1600/Yes-TL-11-03-2016.png>
<https://2.bp.blogspot.com/-dMmahmfxY64/VuYyUPUKQLI/AAAAAAAAGeU/4MDQrI8wECsbvFTG4Eb098jO7s_uNApcg/s1600/Yes-Pattern-11-03-2016.png>
<https://1.bp.blogspot.com/-RDzQ1zWYcRY/VuYyWV-rc0I/AAAAAAAAGeY/O_0H3jm5m1wmk_2oL3pyj7S0LCmcYyQXA/s1600/Yes-EW-11-03-2016.png>
--
Thanks & Regards,
Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA Certified
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