HDFC Bank, ICICI Bank: What do charts indicate for private sector lenders?

With a successful run above the 200-day moving average (DMA), the Nifty Bank is set to climb higher levels. However, once cannot rule out intermittent corrections

Most private sector bank stocks were trading in the red in the morning deals on Thursday. The Nifty Private Bank index traded 0.57 per cent lower at 13,553 levels with 6 constituents declining and 4 advancing. Nifty Bank, too, was trading in the negative territory - down nearly 0.5 per cent at 24,525 levels. In comparison, the benchmark Nifty50 index was quoting 0.4 per cent lower at 11,889 levels.

Here is a look at how Nifty Bank and key private sector lenders look on charts.

NIFTYBANK: With a successful run above 200-day moving average (DMA), the index is set