BackSBI to HDFC Bank: Experts recommend 'buy' on these banking stocks
Markt experts have said that shares of State Bank of India (SBI), Canara Bank, HDFC Bank and Bandhan Bank still have the potential to go northward
PremiumStocks to buy today: After Indian indices scaling fresh high last week, stock market experts have said that banking and financial stocks are expected to continue fueling Dalal Street in upcoming trade sessions. They said that shares of State Bank of India (SBI), Canara Bank, HDFC Bank and Bandhan Bank still have the potential to go northward. They suggested stock market investors to look at these stocks if they are looking to buy banking shares.
Speaking on the banking and financial stocks that can be a good share to buy today Sumeet Bagadia, Executive Director at Choice Broking said, "Banking and financial stocks are expected to continue attracting fresh investments as this was one of the most hit-sectors during the selloff. Though some of the banking stocks have already rallied but still there is good number of banking stocks available at discounted price. SBI, HDFC Bank, Canara Bank and Bandhan Bank are some of those banking stocks, which is still available at discounted price and one can buy these stocks if the market opens today with a positive gap."
Unveiling major levels for SBI share price Sumeet Bagadia of Choice Broking said, "One can buy SBI shares at current market price (Friday closing at NSE is ₹422) for the target of ₹450. But, one must maintain stop loss at ₹405 and keep on accumulating till SBI share price is above ₹405."
Speaking on HDFC Bank shares Mudit Goel, Senior Research Analyst at SMC said, "One can buy HDFC Bank shares at current market price of ₹1507.75 (Friday close price at NSE) for the immediate target of ₹1570 and ₹1600 maintaining stop loss at ₹1465."
Sharing investment strategy in regard to Canara Bank shares, Mudit Goel of SMC said, "Those looking to buy public sector banking stocks, Canara Bank is one of the potential shares to buy today. One can buy Canara Bank stocks at CMP for the short-term target of ₹190. But, one must maintain the stop loss at ₹145."
Batting for Bandhan Bank shares Sumeet Bagadia of Choice Broking said, "Bandhan Bank shares are one of those banking stocks, which are available to discounted price as the stock has been trading range-bound for long. The stock can showcase some sharp upside movement in upcoming sessions and can go up to ₹325 in one to two weeks. So, one can buy Bandhan Bank stocks maintaining the stop loss at ₹295."
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