5 bank stocks that may give up to 10% return in a month

2. ICICI Bank Ltd

Likely target: Rs 800

Upside potential: 7%

After the stock conquered the significant hurdle of Rs 735 last month, the breakout exhibited a bullish outlook for the short to medium-term. This sentiment is currently testing the same support of Rs 735, which was the breakout mark earlier, and honoring the respective level. So, until this level does not get dismantled, the positive reversal may see a sharp rebound in the direction of Rs 800 levels, according to the weekly chart.

3. Axis Bank Ltd

Likely target: Rs 750

Upside potential: 10%

The Axis Bank stock has fallen over 20 percent in the last month and is filling the gap-up area of Rs 684 to Rs 677, according to the weekly chart. Although the crucial aspects of a stock like moving averages, technical indicators, and volumes are unfavorable for any reversal, the gap-up area suggests firm price support that displayed an upside breakout earlier and is likely to see a similar turnaround now. The immediate support comes at Rs 650 while a rebound may see a jump towards Rs 750 – Rs 760 levels. 

4. Central Bank of India

Likely target: Rs 27

Upside potential: 10%

The recent gap up close of over 10 percent exhibits a positive reversal nearing the 200 (DMA), set at Rs 20.40 levels. This move is well supported by strong volumes indicating the interest of market players. Now, the stock needs to conquer the horizontal resistance of Rs 24 on the closing basis and that could embark on a new trend towards Rs 27 levels. The immediate support comes at Rs 21 levels. 

5. Bank of Baroda

Likely target: Rs 101

Upside potential: 9%

This stock has a decisive level at Rs 90, which is not only the breakout level for the recent upward rally, but now coincides with the 50-DMA. The current chart shows a decent reversal from the same decisive level and may see further upside in the direction of Rs 101 levels, according to the daily chart.