How to trade HDFC Bank shares after new CEO appointment? Technical indicators still signal weakness

HDFC Bank shares rose 0.8% to Rs 710.50, offering a modest relief move after Anup Bagchi was appointed chief executive. The rebound has not repaired the broader trend: the stock is down 28% in 2026, compared with a 14% decline in the Nifty 50. It has also slipped 0.2% over one month and 13.3% over three months, and remains 30% below its 52 week high. Technical analysts identify resistance around Rs 755 to Rs 760, while support is seen near Rs 685 to Rs 680.

The appointment may reduce uncertainty around leadership, but the share price response suggests investors still need evidence on execution, loan growth, asset quality and profitability. HDFC Bank's weakness also matters for the banking sector and the broader indices because large private lenders tend to influence both sentiment and benchmark performance. Banks are down 3.5% over one month and 4.3% over three months. A sustained move above Rs 755 to Rs 760, alongside stronger sector performance and improving operating metrics, would support a firmer reading. Failure to hold Rs 685 to Rs 680, or continued sector weakness, would weaken it.