SBI, HDFC Bank: How to trade banking stks post SC's loan moratorium verdict

Major banking stocks have broken crucial supports

Bank stocks were in focus at the bourses on Tuesday, with the Nifty PSU Bank rallying as much as 3.6 per cent in intra-day, after the Supreme Court rejected the pleas from various trade associations and corporate bodies to extend the six-month loan moratorium period offered by the Reserve Bank of India (RBI), adding that a complete waiver of interest during the moratorium cannot be granted either.

The SC said that no direction can be issued to the government or RBI to announce any particular financial packages or reliefs, and held that it cannot issue directions to provide relief to particular sectors