HDFC LIFE - REVERSAL
Topic Statement: HDFC Life is experiencing minor selling pressure despite NIFTY's sharp correction.
Key Points:
1. The stock has formed a head and shoulders pattern, indicating potential weakness.
2. The price is moving within a down trending channel, reinforcing bearish sentiment.
3. Currently the stock is taking support at the 50% retracement level. It may fall to the 61.8% retracement level, finding strong support around Rs 600.
Key Points:
1. The stock has formed a head and shoulders pattern, indicating potential weakness.
2. The price is moving within a down trending channel, reinforcing bearish sentiment.
3. Currently the stock is taking support at the 50% retracement level. It may fall to the 61.8% retracement level, finding strong support around Rs 600.
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