HDFCBANK
HDFC Bank shares gained over 3% after reports suggested an independent governance review found no major concerns following former chairman Atanu Chakraborty’s exit. The review reportedly concluded that board processes and key decisions were handled as per established procedures, easing investor concerns around governance and management stability.
Technically, the stock has shown a strong rebound after a prolonged correction. On the daily chart, HDFC Bank had been trading in a clear downtrend with lower highs and lower lows, but recent price action indicates a base formation near the ₹750–₹770 zone, which is acting as strong support. The latest bullish candle reflects fresh buying interest supported by positive news flow.
The stock has moved above its short-term averages, suggesting improving momentum, while the RSI has recovered near the 50 mark, indicating a shift from bearish to neutral-positive sentiment. However, the stock remains below medium and long-term moving averages, keeping the broader trend cautious.
Key levels to watch:
Support: ₹775, ₹750–₹770
Resistance: ₹800–₹810, followed by ₹825–₹840
A breakout above ₹810 could trigger further upside towards ₹825–₹840, while failure to hold above ₹775 may lead to renewed weakness.
Overall,