HDFC Bank extends rally after 28 Oct low, 843 in focus

HDFC Bank closed the week ended 6 Nov 2026 with a double-digit gain as private banks led a broad market rally, with 843 the key level ahead. HDFC Bank Limited [ HDFCBANK ] closed at ₹798.15 on 9 Nov 2026, up 1.75%. The stock gained in double digits in the week ended 6 Nov, after hitting its lowest level since July 2022 on 28 Oct. Banks led a broad market rally. The Nifty 50 rose 8.58% in the week of 2 to 6 Nov, its best week since Feb 2021, helped by foreign inflows, lower crude and a firmer rupee. Nifty Private Bank rose 3.22% on 6 Nov. Clarity on leadership also helped, as Anup Bagchi took charge as Managing Director and CEO on 27 Oct 2026. The price now sits between the 738 and 843 levels. Daily RSI is near 74.5, which is overbought, while weekly RSI is near 57.6, which shows momentum improving without being stretched. What next: 843, the July 2026 swing high, is the key resistance. A close above it may open room for a wider recovery. Support is placed at 738, then 669. Conclusion: The trend has improved from the low, but the stock remains over 20% below its 52-week high, so the reaction near 843 matters. Disclaimer: I do not hold any position in the stock discussed. This content is informational, not a recommendation. Investments in securities are subject to market risks. Read all related documents carefully before investing.