HDFC Bank has been consolidating in the Rs 1,550-1,600 range, maintaining support of Rs 1,560. Some improvement in the bias is anticipated in the coming days. 
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HDFC Bank has been consolidating in the Rs 1,550-1,600 range, maintaining support of Rs 1,560. Some improvement in the bias is anticipated in the coming days. Domestic stock indices kicked off the week on a positive note on Monday, thanks to positive global cues and buying in select heavyweights. The BSE Sensex rose 240.98 points, or 0.37 per cent, to settle at 65,628.14. The NSE Nifty gained 93.50 points, or 0.48 per cent, to close at 19,528.80. Select financial stocks namely YES Bank, HDFC Bank and L&T Finance Holdings are likely to be in action today. Here is what Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher has to say on these stocks ahead of Tuesday's trading session:HDFC Bank | Buy | Target Price: Rs 1,750 | Stop Loss: Rs 1,530 HDFC Bank has been in consolidation in the Rs 1,550-1,600 range, maintaining a support at Rs 1,560. Some improvement in the bias is anticipated, which may take the stock higher in the coming days. The RSI is well-placed after reversing from the oversold zone in anticipation of upside movement. With the chart looking good, one can accumulate the stock for an upside target of Rs 1,750, keeping the stop loss at Rs 1,530.L&T Finance Holdings | Buy | Target Price: Rs 140 | Stop Loss: Rs 124 L&T Finance has witnessed a decent reversal from the Rs 116 level. After a good consolidation near the Rs 124 level, it is maintaining a strong support near the significant 50 EMA level. The stock has formed a bullish candle, moving past its resistance zone of Rs 127.50 level, improving the bias. The RSI is well-placed, which is on the rise. The stock has immense upside potential. With the chart looking good, one can buy the stock for an upside target of Rs 140, keeping the stop loss at Rs 124.YES Bank | Buy | Target Price: Rs 21 | Stop Loss: Rs 17.7 YES Bank has formed a bullish candle on the daily chart after a short consolidation phase. It has moved past its 200-period MA, improving the bias. The near-term target for the stock stands at Rs 18.55 level, where there is a resistance. A further move with a decisive breakout would open up doors for the next target of Rs 21-22 levels. The near-term support is maintained at around Rs 16.70 levels. The RSI has indicated a trend reversal and signalled a ‘buy’. The stock has upside potential in the coming days.Disclaimer: Under no circumstances should any person at this platform make trading decisions based solely on the information discussed herein. You should consult a qualified broker or other financial advisor prior to making any actual investment or trading decisions. All information is for educational and informational use only. Business Today does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same.
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