ICICI Bank Q3 results: Check earnings preview and options strategy ahead of results

Experts anticipate an 8-10% year-on-year (YoY) rise in net profit, ranging between ₹11,000 and ₹11,430 crore. However, on a sequential basis, net profit may decline by 1-3%. The Net interest income (NII) is projected to grow 9-11% YoY, reaching ₹20,400-20,600 crore. Sequentially, NII growth is expected to remain flat.

ICICI Bank's asset quality is expected to stay stable, with gross non-performing assets (NPA) around 2% and net NPA at 0.4%. Investors will also closely track key metrics such as loan and deposit growth, net interest margin, and NPA figures when the results are announced.

Ahead of the Q3 results, ICICI Bank shares are trading 0.38% higher at 1,206 per share on Friday, January 24. However, the stock has declined 6.23% so far this month.

Technical View

Shares of ICICI Bank slipped to weekly 50 exponential moving average (EMA) and is currently trading around the crucial support zone. Additionally, it surrendered 200 EMA on the daily chart, indicating that the broader trend remains weak. However, it is important to note that shares of ICICI Bank have declined nearly 11% from its 16 December peak and formed a doji candlestick pattern on 223 January.

Since doji is an indecision pattern, traders can monitor the high and low of the doji. As a close above the high or below the low of the doji will provide further clues.

Options outlook

The 30 January expiry's open interest data highlights significant concentration of call and put option at the 1200 strike.

To make more informed trading decisions, it is essential to analyse ICICI Bank's historical price behavior during previous earnings announcements.

Options strategy for ICICI Bank

ICICI Bank’s options data for the 30 January expiry implies a potential price swing of ±4.1% in either direction, offering strategic opportunities based on volatility expectations.