HDFC Bank, ICICI Bank: What technical charts indicate for private banks

Most private banks have given steady returns in the last one month post reduction in the corporation tax. ICICI Bank tops the list with over 23 per cent gains, followed by Axis Bank (up nearly 16 per cent), and HDFC Bank (up around 13 per cent). Nifty Private Bank index, on the other hand, has climbed 12 per cent while Nifty Bank has risen over 11.50 per cent. The benchmark Nifty50 index has added around 10 per cent during the same period.

Here's a look at what technical charts indicate for Nifty Bank and key private banks.   

NIFTY BANK: