SBI, HDFC Bank: Trading strategies for bank stocks post RBI's GNPA warning

Nifty Bank index may hit record levels of 33,000 if it surpasses the resistance of 32,300

The Reserve Bank of India's (RBI's) Financial Stability Report (FSR) of December 2020, which stated that banks' gross non-performing assets (GNPAs) may rise sharply to 13.5 per cent by September 2021, weighed on stocks on Tuesday. Nifty Bank index slipped to a low of 31,726 in the early morning deals, down 0.8 per cent, dragged by State Bank of India, ICICI Bank, IndusInd Bank, and Bandhan Bank.

The index, however, pared losses marginally and was trading 0.3 per cent lower on the National Stock Exchange (NSE) at 10:10 am. Individually, SBI, HDFC Bank, IDFC First Bank, Punjab National Bank, and RBL