YES Bank, ICICI Bank, Kotak Bank: How should you trade these buzzing banking stocks

Benchmark stock indices continued extended gains for yet another session on Thursday. Persistent FPI inflows and resilience in a few stocks lifted indices.  The BSE Sensex gained 0.71 per cent to settle at 67,571.90. The NSE Nifty added 0.74 per cent  to end the day at 19,979.15. Select results-bound banking stocks such as ICICI Bank, YES Bank and Kotak Mahindra Bank are likely to remain under the spotlight ahead of their results on Saturday. Here is what Riches Vanara, Technical and Derivatives Analyst at Stoxbox, has to say on these stocks ahead of Friday's trading session:ICICI Bank | Buy | Target Price: Rs 1,020-1,050 | Stop Loss: Rs 985 Banking heavyweight ICICI Bank has broke out of a Cup and Handle pattern on the daily chart. A quick jump can bee seen in its share price. The momentum indicator MACD is also trending in favour of the positive price action. Derivatives data for July series is bullish and supportive. All in all, the stock is ready for targets of Rs 1,020 and 1,050, with the immediate support placed at Rs 985 level.YES Bank | Buy | Target Price: Rs 18.40-19.80 | Stop Loss: Rs 16.80 YES Bank shares are trading in an ascending channel pattern on the daily chart. They are approaching the upper end of the channel, which can be termed as resistance area. The same also coincides with the long resistance zone of Rs 17.50-18.50. The  short-term moving averages are working as a good support for the stock and volumes are also supportive for continuation of the up move. One can buy YES Bank shares for targets of Rs 18.40 and Rs 19.80, respectively. The stock may find the immediate support at Rs 16.80.Kotak Mahindra Bank | Avoid Kotak Mahindra Bank's stock broke out of a rounding bottom pattern on the daily chart. The said pattern is seen on the daily chart. The price targets on the basis of the pattern is not supportive, keeping in mind the risk-reward. Also, the stock has multiple resistance around Rs 1,980-2,000 levels. Hence, one can avoid the counter for any fresh position.  (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)