YES Bank, Bandhan Bank, RBL Bank: Trading strategies for these buzzing private banking stocks

Indian benchmark indices ended on a flat note after hitting new highs during the trading session on Thursday. However, profit booking at the higher levels dragged the headline indices lower. BSE Sensex advanced 62.87 points, or 0.08 per cent to end at 80,049.67. NSE's Nifty50 index added 15.65 points, or 0.06 per cent, to settle at 24,302.15 for the day.

Some buzzing private banking stocks namely Bandhan Bank Ltd, YES Bank Ltd and RBL Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Kushal Gandhi, Technical Analyst at StoxBox has to say on these stocks ahead of Friday trading session:

RBL Bank | Buy | Target Price: Rs 297 | Stop Loss: Rs 252

After emerging from the accumulation phase of the stage 1 stock cycle, RBL Bank's price action appears to be trading within a potential volatility compression pattern. The observed contractions in price depth and time suggest ongoing supply absorption, a positive indicator. With immediate support at its 50-day moving average, this presents a potentially low-risk, high-reward opportunity. We recommend buying Bandhan Bank, with a target price of Rs 297 and a protective stop at Rs 252.

Bandhan Bank | Avoid

Bandhan Bank's price trend has been consistently downward, showing no signs of recovery beyond its previous peak. Although the stock has been supported by shorter-term weekly moving averages, it faces immediate resistance from the negatively sloping 50-week moving average. Additionally, the stock exhibits notably underperforming relative strength and weak EPS strength. Therefore, we advise against investing in this stock.

YES BANK | Buy | Target Price: Rs 27.10 | Stop Loss: Rs 22.90

Yes Bank's price movement has recently consolidated within a narrow range of 5.4 per cent after experiencing a correction from the peak of Rs 32.85. The immediate resistance level is positioned at Rs 24.65, with the 50-day moving average providing strong support within this range. Given the improving EPS and robust buyer demand, the stock presents a favourable opportunity for a new position, targeting Rs 27.10 with a protective stop at Rs 22.90.

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