HDFC Bank, Kotak Mahindra Bank, ICICI Bank: How to trade these buzzing banking stocks
An analyst from Anand Rathi said that Kotak Mahindra Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term.
- Mar 24, 2026,
- Updated Mar 24, 2026 8:43 AM IST
Indian benchmark indices kicked-off the week on a jittered note and settled sharply lower on Monday amid the rising geopolitical tensions in West Asia, adding to energy and inflation concerns. The BSE Sensex tumbled 1,836.57 points, or 2.46 per cent, to close at 72,696.39, while NSE's Nifty50 crashed 601.85 points, or 2.60 per cent, to end at 22,512.65 on the day.
Select buzzing banking stocks including HDFC Bank Ltd, Kotak Mahindra Bank Ltd and ICICI Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers has to say on them ahead of Tuesday's trading session:
ICICI Bank | Caution | Resistance: Rs 1,235 | Support: Rs 1,200
ICICI Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term. However, the Rs 1,200 level is technically significant as it coincides with a strong demand zone formed in March 2025. This makes it a crucial support to watch. If the stock manages to sustain above Rs 1,200, it could attract buying interest and lead to a short-term bounce. On the upside, Rs 1,235 acts as an immediate resistance level, where selling pressure may re-emerge. Traders should adopt a wait-and-watch approach around Rs 1,200, as a breakdown could extend the downside, while stability above it may trigger a relief rally toward higher levels.
HDFC Bank | Caution | Resistance: Rs 770 | Support: Rs 730
HDFC Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term. However, the Rs 730 level holds strong technical importance as it aligns with a demand zone formed in May 2024, making it a crucial support to monitor. If the stock sustains above Rs 730, it may attract fresh buying interest and lead to a short-term bounce. On the upside, Rs 770 stands as an immediate resistance level, where selling pressure could reappear. Traders are advised to adopt a wait-and-watch approach around Rs 730, as a breakdown may extend the downside, while sustained stability above it could trigger a relief rally toward higher levels.
Kotak Mahindra Bank | Caution | Resistance: Rs 380 | Support: Rs 345
Kotak Mahindra Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term. The Rs 345 level holds strong technical importance as it aligns with a demand zone formed in November 2024, making it a crucial support to monitor. If the stock sustains above Rs 345, it may attract fresh buying interest and lead to a short-term bounce. On the upside, Rs 380 stands as an immediate resistance level, where selling pressure could reappear. Traders are advised to adopt a wait-and-watch approach around Rs 345, as a breakdown may extend the downside, while sustained stability above it could trigger a relief rally toward higher levels.
Indian benchmark indices kicked-off the week on a jittered note and settled sharply lower on Monday amid the rising geopolitical tensions in West Asia, adding to energy and inflation concerns. The BSE Sensex tumbled 1,836.57 points, or 2.46 per cent, to close at 72,696.39, while NSE's Nifty50 crashed 601.85 points, or 2.60 per cent, to end at 22,512.65 on the day.
Select buzzing banking stocks including HDFC Bank Ltd, Kotak Mahindra Bank Ltd and ICICI Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Jigar S Patel, Senior Technical Research Analysts at Anand Rathi Share and Stock Brokers has to say on them ahead of Tuesday's trading session:
ICICI Bank | Caution | Resistance: Rs 1,235 | Support: Rs 1,200
ICICI Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term. However, the Rs 1,200 level is technically significant as it coincides with a strong demand zone formed in March 2025. This makes it a crucial support to watch. If the stock manages to sustain above Rs 1,200, it could attract buying interest and lead to a short-term bounce. On the upside, Rs 1,235 acts as an immediate resistance level, where selling pressure may re-emerge. Traders should adopt a wait-and-watch approach around Rs 1,200, as a breakdown could extend the downside, while stability above it may trigger a relief rally toward higher levels.
HDFC Bank | Caution | Resistance: Rs 770 | Support: Rs 730
HDFC Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term. However, the Rs 730 level holds strong technical importance as it aligns with a demand zone formed in May 2024, making it a crucial support to monitor. If the stock sustains above Rs 730, it may attract fresh buying interest and lead to a short-term bounce. On the upside, Rs 770 stands as an immediate resistance level, where selling pressure could reappear. Traders are advised to adopt a wait-and-watch approach around Rs 730, as a breakdown may extend the downside, while sustained stability above it could trigger a relief rally toward higher levels.
Kotak Mahindra Bank | Caution | Resistance: Rs 380 | Support: Rs 345
Kotak Mahindra Bank is trading below all its key moving averages, indicating a clear bearish undertone in the short term. The Rs 345 level holds strong technical importance as it aligns with a demand zone formed in November 2024, making it a crucial support to monitor. If the stock sustains above Rs 345, it may attract fresh buying interest and lead to a short-term bounce. On the upside, Rs 380 stands as an immediate resistance level, where selling pressure could reappear. Traders are advised to adopt a wait-and-watch approach around Rs 345, as a breakdown may extend the downside, while sustained stability above it could trigger a relief rally toward higher levels.