Kotak Mahindra Bank surges 4.46% then gives up gains

Kotak Mahindra Bank surged 4.46% on October 1, 2026, after its new MD and CEO announcement, but gave up most gains to close 0.3% higher. ₹436 resistance and ₹368 support remain in focus. Kotak Mahindra Bank Limited (

) witnessed a sharp intraday surge of up to 4.46% on Thursday, October 1, 2026, following the announcement of its new Managing Director and CEO. The development initially triggered strong buying interest, pushing the stock significantly higher during the session. However, the enthusiasm proved short-lived, as the stock gradually surrendered almost all its intraday gains and eventually settled with a marginal increase of just 0.3%. The sharp intraday reversal highlights the selling pressure at higher levels, despite the positive initial reaction to the leadership announcement. Such price action makes the upcoming sessions important from a technical perspective. Technical Levels On the technical front, ₹436 may act as the immediate resistance level, while ₹368 remains the major support zone. Conclusion: Kotak Mahindra Bank's price action reflects a strong initial reaction followed by significant profit booking. The stock's movement around ₹436 resistance and ₹368 support will remain important in assessing its near-term price structure. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.