HDFC Bank share price declined more than 2% in intraday trade on the BSE on Thursday, 22 October, looking set to extend losses for the fourth consecutive session. HDFC Bank shares opened at ₹701 against their previous close of ₹706.40 and declined 2.1% to an intraday low of ₹691.40.
HDFC Bank share price history
The stock has delivered negative returns over the last several years now. As per BSE data, while year-to-date (YTD) the stock is down 30%, over the last one year, it is down 31%.
On longer timeframes of 2, 3, and 5 years, the stock has dropped 19%, 9%, and 18%, respectively.
The heavyweight banking stock rose to a 52-week high of ₹1,020.35 on 23 October last year and a 52-week low of ₹682 on 11 September this year.
Experts highlight key support, resistance levels to watch
According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, HDFC Bank share price is currently facing significant resistance at its 400-week exponential moving average (EMA), which has emerged as a major hurdle on the weekly chart.
Patel underscored that over the past 3–4 weeks, repeated attempts to cross this crucial technical barrier have failed, indicating sustained selling pressure at higher levels.
However, Patel added that the weekly Relative Strength Index (RSI) is displaying a bullish divergence, suggesting that the underlying selling momentum may be weakening and the stock could be preparing for a recovery.
“Based on this technical setup, a rebound towards ₹745 cannot be ruled out. However, this level remains crucial, as a decisive weekly close above ₹745 would be necessary to confirm a stronger breakout and improve the medium-term technical outlook,” said Patel.
“On the downside, ₹680 remains a critical support zone. A sustained hold above this level could support the recovery attempt, while a breakdown below it may weaken the bullish outlook and invite further selling pressure,” Patel said.
Vipin Kumar, AVP-Research at Globe Capital Market, said HDFC Bank has been moving southward in a lower-lows and lower-highs formation since December 2025.
According to Kumar, immediate support is placed around the ₹680– ₹690 spot zone.
“A decisive close below ₹680 could drag it toward the ₹600– ₹640 spot zone in the near term. Any bounce toward ₹730– ₹740 spot levels will attract fresh selling interest at higher levels,” said Kumar.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
