HDFC Bank, RBL Bank & Max Healthcare: How to trade these 3 buzzing stocks

Indian benchmark indices settled sharply lower on Thursday on the back of muted global cues amid weekly expiry of F&O contracts as the US stared at economic recession. BSE Sensex plunged 823.16 points, or 1.00 per cent, to settle at 81,691.98, while NSE's Nifty50 plunged only 253.20 points, or 1.01 per cent to close at 24,888.20 for the day.

Select buzzing stocks including HDFC Bank Ltd, Max Healthcare Institute Ltd, RBL Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services has to say about these stocks ahead of Friday's trading session:

HDFC Bank | Buy | Target Price: Rs 2,035-2,060 | Stop Loss: Rs 1,878

HDFC Bank has registered a breakout from a well-defined rectangle consolidation pattern, indicating a bullish continuation of its prevailing uptrend. Post-breakout, the stock successfully retested the upper boundary of the range, which coincides with the 21-EMA, reinforcing the strength of the breakout. The stock continues to form higher highs and higher lows and remains above its 21- and 55-EMA, highlighting sustained bullish momentum. Additionally, an RSI reading of 52 coupled with a bullish MACD divergence confirms underlying strength.

Max Healthcare Institute | Buy | Target Price: Rs 1,298-1,320 | Stop Loss: Rs 1,130

Max Healthcare has registered a breakout from an Ascending Triangle pattern, signaling a continuation of the prevailing bullish trend. The breakout is supported by a noticeable rise in volumes, reflecting renewed buying interest. The stock continues to form higher highs and higher lows, underscoring its strong upward trajectory. It is trading above its key exponential moving averages, reinforcing bullish momentum. Additionally, the RSI at 60 and a bullish crossover on the MACD confirm the underlying strength.

RBL Bank | Buy | Target Price: Rs 245-255 | Stop Loss: Rs 208

RBL Bank has registered a breakout from a well-formed rounding bottom pattern, signaling a bullish trend reversal. The breakout was supported by a significant surge in volume, highlighting renewed buying interest from market participants. Post-breakout, it has successfully retested the breakout level as support. A golden crossover, with the 55-EMA crossing above the 200-EMA, further strengthens the bullish setup. The stock continues to trade above its 21 and 55 EMAs, reflecting sustained momentum. An RSI of 60 and a bullish MACD bias reinforce the potential for continued outperformance in the near term.