Unlock 5 Impact on Stock Market: SBI, ICICI Bank to Axis Bank — expert recommends these fabulous banking shares to buy
Unlock 5 Guidelines Impact: Stock market has cheered the Unlock 5 guidelines being implemented from today across India. Stock market expert Sumeet Bagadia said that due to unlocking, business activities are expected to pick up and it will first get reflected in banking stocks. The Executive Director at Choice Broking also said that on Monday at the EMI Moratorium hearing at Supreme Court, some good news from the Government is expected. So, next week we can witness a fresh rally in banking stocks and the Bank Nifty index may further boost the wider stock market. To cash on the upcoming advantage in the banking stocks today due to the unlock 5 guidelines, Bagadia listed out the following six banking shares to buy.
SBI or State Bank of India
Stata Bank of India or SBI share price is currently trading around Rs 190 mark and once can buy this banking stock at current levels for the target of Rs 205 maintaining the stop loss at Rs 182. Photo: PTI
ICICI Bank
ICICI Bank share price is currently trading at Rs 369 after making a strong breakout above Rs 350. One can buy ICICI Bank shares at current levels for the target of Rs 400 maintaining the stop loss at Rs 350. Photo: PTI
Axis Bank
Axis Bank share price has shot up to the tune of near 4.3 per cent in the intraday trade. One can buy Axis Bank shares at a current Rs 442 mark for the target of Rs 470 and Rs 500. But, one must maintain the stop loss at Rs 425 mark. Photo: PTI
Equitas Holdings
Equitas Holdings share price has skyrocketed to the tune of near 7 per cent in the intraday trade session. One can buy this small financial company stock at current levels for the target of Rs 60 maintaining the stop loss at Rs 50.50 levels. Photo: Courtesy Equitas Holdings website
Ujjivan Financial Services
Ujjivan shares have shot up over 3 per cent in the intraday trade and currently trading at Rs 218.20 levels. One can buy Ujjivan shares at current levels for the target of Rs 235 to 250 maintaining the stop loss at Rs 210. Photo: Courtesy Ujjivan Small Finance Bank website
Mahindra and Mahindra Financial
Mahindra Financial share price has surged over 5 per cent today and one can buy this counter at current levels for the target of Rs 140 to Rs 145 maintaining the stop loss at Rs 121. Photo: Reuters