Buy RBL Bank, L&T Finance shares, stay cautious on Jio Financial, suggests YES Securities

Amid the rising volatility in the Indian stock market, domestic brokerage firm YES Securities has shared its views on select financial stocks including Jio Financial Services Ltd, RBL Bank Ltd and L&T Finance Holdings Ltd based on technical charts. Laxmikant Shukla, Senior Technical Analyst at YES Securities has suggested to buy two out of them. Here's what he said on these counters:

Jio Financial Services | Caution | Resistance: Rs 300 | Support: Rs 275

Bearish momentum in Jio Financial is strengthening. The stock remains below all major moving averages, and a recent rebound failed decisively when the RSI could not sustain it above 60 and fell below 40 which is a bearish signal. With the MACD histogram now confirming a pickup in selling pressure, a further drop toward Rs 275-280 is expected. Any rally that fails to break above Rs 300 should be viewed as a selling opportunity.
 

RBL Bank | Buy | Target Price: Rs 335 | Stop Loss: Rs 295

Despite a recent retreat from its high of Rs 324, RBL Bank is now presenting a compelling buying opportunity. It has found strong support at a key confluence zone that includes the previous swing low and the 100-day SMA’s. This robust support level is further reinforced by the emergence of a bullish belt hold” candlestick pattern and the prior confirmation of a breakout above its previous peak. These factors collectively signal an imminent recovery. For traders, this suggests a strategic entry on price dips within the Rs 306 to Rs 310 range, targeting an upside of Rs 335, while prudently managing risk with a stop loss placed at Rs 295.
 

L&T Finance | Buy | Target Price: Rs 328 | Stop Loss: Rs 295

L&T Finance is showing signs of a reversal after a 14 per cent correction, highlighted by a bullish piercing candlestick pattern following six days of decline. It now approaches a critical resistance cluster near Rs 301-306 where a falling trendline converges with the 50-day and 20-day moving averages. A decisive close above Rs 306 would confirm a new bullish phase with an initial target of Rs 328, a view supported by a bullish crossover in the daily RSI, provided the stock maintains support above the Rs 295 level.