HDFC Bank touched a 52-week low of ₹669.20 on 28 Oct 2026, a day after Anup Bagchi took charge as MD & CEO, and has since recovered about 17.8%*. The stock has closed higher in six consecutive sessions, adding roughly 13.8% in a week, and the 06 Nov candle closed at its high on heavy volume. The bounce is sharp, but the stock still trades about 22.5%* below its 52-week high of ₹1,017.50, so the larger downtrend is being repaired rather than reversed.

The price is above all eight tracked SMAs. The 20-, 30- and 50-day averages are bunched within ₹711.9–713.7, the base of the October consolidation, and form the deepest support cluster. The 200-day SMA at ₹784.6 is cleared by only 0.5%, and 06 Nov is the first close above it in the six sessions reviewed, so a hold above it would need confirmation over coming sessions. The stock is also 10.4% above its 50-day SMA, a stretch that has historically invited consolidation. With the 50-day SMA still below the 100-, 150- and 200-day SMAs, the longer-term stacking remains bearish.

RSI at 73.9, Stochastic RSI at 100 and CCI at 237.9 all signal an overbought short-term reading, which often precedes a pause or pullback, although strong recoveries can stay overbought for several sessions. MACD is above both its signal line and zero, a bullish momentum signal. ADX at 21.2 is below 25, meaning the move is momentum-led rather than a confirmed trend. With ATR near ₹17.5 and a 1-month beta of 1.33, daily swings of ₹15–20 would be normal and the stock may amplify Nifty moves.

The 06 Nov close sits above the classic pivot of ₹776.85, which keeps near-term bias positive while it holds. Overhead, ₹799.65–802.24 is the first supply area, and ₹843 is a notable confluence because the 6-month high of ₹843.00 coincides with the 50% Fibonacci retracement.

Measured from the 52-week low of ₹669.20 to the high of ₹1,017.50, the stock has retraced above the 23.6% level at ₹751.40 and now trades between it and the 38.2% level at ₹802.24. A sustained close above ₹802 would shift attention toward the 50% level near ₹843, while a slide back under ₹751 would put the recovery in question.

Short windows look strong, with +13.78% in a week and +10.79% in a month, but the 1-year change is −19.95% and the 5-year change is only −1.10%. Over five years the stock has gone almost nowhere, and the 5-year low of ₹635.80 is only about 5% below the 52-week low, which makes the ₹669 area a long-term support to monitor.

Volume on 06 Nov was about 2.5 times the one-month average, a high-volume session, and the delivery share of 62.99% is about four percentage points above the one-month average of 58.98%. Heavier delivery alongside a breakout candle suggests buying by investors rather than purely intraday traders. The comparison is indicative because the volume figures use different exchange bases.

Technical overlay: the sentiment improvement explains the speed of the rebound, but the rally has run ahead of trend confirmation (ADX 21.2) and sits on overbought oscillators, so the technical read is treated as constructive but stretched.

Each figure used in this report is listed with the logic behind it, so readers can reproduce the numbers. Figures that are recomputed or derived can be rebuilt from the closing prices and the 52-week high and low shown above. Figures marked * are derived, not quoted.