Technically, HDFC (CMP:1132) need to stay above 1160-1175-1205 zone for any rally up to 1250-1275 and 1295-1325 & 1380-1405 in the near to long term.
On the other side, inability to sustain above 1160, it may face selling pressure and fall below 1120-1095 zone, it may further drift towards 1065-1045-1010 zone in the near term.
Trading Idea: HDFC
CMP: 1132
Either sell below 1160 or on rise around 1175-1205;
TGT: 1120-1095*-1065-1045-1010*-975*-960-940* (1-3/6M)
TSL> 1220
Note: Consecutive closing (3 days) above 1220 zone for any reason, HDFC may further rally up to 1250-1275*-1295-1325-1350* & 1380-1405 in the near to long term (alternative bullish case scenario).
Some analysts are expecting somewhat muted result from HDFC in Q4FY16 which will include one time exceptional gain of Rs.1220 cr from a 9% stake sale to Standard Life in Aug'15.
All eyes will be also on any potential pressure on developer loans in Q4FY16 and as par some news, HDFC may provide around Rs.450 cr as additional provisioning for stressed assets.
As par MAQ, valuation of HDFC under SOTP may be around 1168 as below:
HDFC core business: 685
HDFC Bank: 338
HDFC Standard Life: 60
HDFC Asset Management: 34
HDFC Non-Life Insurance: 13
Gruh Finance: 37
Alternate Assets: 1
----------------
Target Price: 1168
Analytical Charts:
No comments:
Post a Comment