YES Bank, RBL Bank, Bandhan Bank: How to trade these 3 buzzing banking stocks

Indian benchmark indices ended with smart gains on Friday on the back of positive global cues. Softer crude oil prices supported the sentiments amid the near-term volatility over trade deal uncertainty. BSE Sensex surged 447.55 points, or 0.53 per cent, to settle at 84,929.36, while NSE's Nifty50 jumped 150.85 points, or 0.58 per cent, to close at 25,966.40 for the day.
 

Select buzzing midcap banking stocks including RBL Bank, Bandhan Bank and YES Bank are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets for Monday's trading session:
 

Bandhan Bank | Target Price: Rs 157-161 | Stop Loss: Rs 145

Prices of Bandhan Bank are making a lower low formation but has reclaimed the 10 & 20-days SMA on the daily charts. Even the momentum indicator RSI is positively poised. This suggests that momentum on the upside is likely to continue. Traders can consider holding their existing long positions at the current market price of around Rs 149, with a strict stop-loss at Rs 145, the stock has potential to test Rs 157–161 over the coming weeks to months.
 

YES Bank | Target Price: Rs 25-27 | Stop Loss: Rs 19

YES Bank is maintaining the lower top lower bottom formation which is a sign of weakness on the daily charts. However, the stock has taken support at the 150-days SMA and even the momentum indicator RSI is positively poised. Hence a pullback rally in a downtrend is likely to continue. Considering the technical factors, traders are advised to hold their long positions at the current levels, with a stop loss at Rs 19. The stock has the potential to test Rs 25-27 in the coming weeks to months.
 

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RBL Bank | Target Price: Rs 318-327 | Stop Loss: Rs 290

RBL Bank is maintaining the lower top lower bottom formation which is a sign of weakness on the daily chart. However, the stock has taken a support at Rs 291 level which is the 150-days SMA. Further the stock is outperforming the benchmark indices and even momentum indicator RSI is positively poised. Considering the technical factors, traders are advised to hold their long positions at the current levels, with a stop loss at Rs 290. The stock has the potential to test Rs 318-327 in the coming weeks to months.