Axis Bank, SBI: 5 bank stocks that may give up to 10% return in a month

The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 per cent upside in one month

State Bank of India (SBIN)
Likely target: Rs 530
Upside potential: 8%

The shares of banking major took support at its 50-day moving average (DMA), located at Rs 479 recently. As long as this support is defended, the positive bias may help resume an upward momentum towards Rs 530, its next major hurdle, according to the daily chart. The Moving Average Convergence Divergence (MACD) has reached near the zero line and if shows a similar reversal like stock price, the direction and leadership may show an aggressive bullish sentiment. CLICK HERE FOR THE CHART

ICICI Bank Ltd (ICICIBANK)
Likely target: Rs 800
Upside potential:  7%

After the stock conquered the significant hurdle of Rs 735 last month, the breakout exhibited a bullish outlook for short to medium-term. This sentiment is currently testing the same support of Rs 735, which was the breakout mark earlier and honoring the respective level. So, until this level does not get dismantled, the positive reversal may see a sharp rebound in the direction of Rs 800 levels, according to the weekly chart.  CLICK HERE FOR THE CHART

Axis Bank Ltd (AXISBANK)
Likely target: Rs 750
Upside potential: 10%

The Axis Bank stock has fallen over 20 per cent in the last one month and is filling the gap-up area of Rs 684 to Rs 677, according to the weekly chart. Although, the crucial aspects of a stock like moving averages, technical indicators and volumes are unfavorable for any reversal, the gap-up area suggests a firm price support that displayed an upside breakout earlier and likely to see similar turnaround now. The immediate support comes at Rs 650 while a rebound may see jump towards Rs 750 – Rs 760 levels. CLICK HERE FOR THE CHART

Central Bank of India (CENTRALBK)
Likely target: Rs 27 ( closing above Rs 24)
Upside potential: 10%

The recent gap up close of over 10 per cent exhibits a positive reversal nearing the 200 (DMA), set at Rs 20.40 levels. This move is well supported by strong volumes indicating the interest of market players. Now, the stock needs to conquer the horizontal resistance of Rs 24 on the closing basis and that could embark a new trend towards Rs 27 levels. The immediate support comes at Rs 21 levels. CLICK HERE FOR THE CHART

Bank of Baroda (BANKBARODA)
Likely target: Rs 101

Upside potential: 9%

This stock has a decisive level at Rs 90, which is not only the breakout level for the recent upward rally, but now coincides with the 50-DMA. The current chart shows a decent reversal from the same decisive level and may see further upside in the direction of Rs 101 levels, according to the daily chart. CLICK HERE FOR THE CHART