Two bank stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

The stock of Federal Bank has picked up momentum to improve the bias and with the RSI indicator indicating a trend reversal

BUY FEDERAL BANK | CMP: Rs 55.90 | TARGET: Rs 65-70 | STOP LOSS: Rs 50

The stock has been in a gradual rising trend, bottoming out near 51 levels. It has picked up momentum to improve the bias and with the RSI indicator indicating a trend reversal, it  is well placed and has potential to rise further. We suggest to buy and accumulate this stock for an upside target of Rs 65-70 levels, keeping the stop loss of Rs 50.

BUY BANDHAN BANK | CMP: Rs 292.10 | TARGET: Rs 350-365 | STOP LOSS: Rs 275

The stock has witnessed a decent correction and has bottomed-out near 280 levels. With improving bias and momentum picking up, it has made the chart look very attractive. The RSI indicator also indicates a trend reversal from the oversold zone and is well placed. We suggest to buy and accumulate this stock for an upside target of Rs 350-365 levels, keeping the stop loss of Rs 275.

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