Stock picks by Vaishali Parekh, Prabhudas Lilladher: Buy ICICI Bank, HDFC

The stock of ICICI Bank has made a good support base near Rs 340 levels and is currently indicating a trend reversal

BUY ICICI BANK | CMP: Rs 353.80 | Target: Rs 370-380 | Stop Loss: Rs 337

The stock has made a good support base near Rs 340 levels and is currently indicating a trend reversal after a short consolidation has made the bias positive. Also the relative strength index (RSI) has shown a trend reversal to signal a buy. We suggest to buy and accumulate the stock for an upside positional target of Rs 370 - Rs 380 keeping the stop loss near Rs 337.

BUY HDFC LTD | CMP: Rs 1,806 | Target: Rs 1,980- Rs 2020 | Stop Loss: Rs 1,730

The stock has bottomed out and taken support near Rs 1,750 levels and has currently given a positive candle to indicating a trend reversal to make the bias positive. Also the RSI has shown consolidation with trend reversal to signal a buy. We suggest to buy and accumulate the stock for an upside positional target of Rs 1,980 - Rs 2,020 keeping the stop loss near Rs 1,730.

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Disclaimer: The author is analyst at Prabhudas Lilladher. Views are personal.