The recent RBI decision to cut the repo rate has infused fresh optimism into the banking sector, driving positive momentum in select private banks. The rate cut is expected to reduce borrowing costs and boost credit growth, which has been reflected in the breakout patterns of key banking stocks.

IDFC First Bank Ltd.(CMP ₹71, Stop Loss ₹63)
IDFC First Bank surged 7 percent today, breaking out of a bull pennant pattern on strong volumes. A potential MACD crossover is developing, supported by a bullish RSI reading, indicating renewed buying interest. These technical cues point toward a potential continuation of the upward trend in the near term.

IDFC First Bank offers a comprehensive range of banking services, including retail, wholesale, and digital banking, along with treasury operations.

RBL Bank Ltd. (CMP ₹217, Stop Loss ₹200)
 RBL Bank rose 5 percent after bouncing strongly from its 21-day moving average. Both MACD and RSI indicators are showing bullish momentum, suggesting the possibility of further upside.

RBL Bank provides a wide array of services in retail and wholesale banking, treasury management, and financial services, and is well-positioned to benefit from the rate-sensitive environment post the RBI policy action.

Note: Charts and prices are as of 12:30 PM.

Disclaimer

Investments in securities market are subject to market risks, read all the related documents carefully before investing. This is for informational purposes and should not be considered as recommendations.

Kindly refer to  https://share.market/ for more details.

PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887 and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. 

Registration granted by SEBI, enlistment as Research Analyst and Certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors

Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.