My View on HDFC Life for coming weeks/months
This is proof that when the bear strikes, fundamentals of the stock become irrelevant. Although please don't mistake me for a bear, I'm just a greedy bull looking for cheaper prices.
Shown in the chart is a classic example of how early institutional investors dump on retail investors. As you can see in the chart, the entire year of 2021 was a distribution range, and once we broke-down from it, there was an accelerated sell-off. Key notes from the chart :
1) Trend shift has been confirmed as market structure has officially changed to lower highs and lower lows on the weekly/monthly timeframe.
2) This doesn't mean we go short now, because we're at strong support and momentum indicators are extremely oversold.
3) Looking for potential lower highs to get into short positions for lower lows (potential positional trade).
4) We could also potentially trend up from here, re-test current lows, and after some accumulation ultimate trend higher.
Possible paths have been shown (just ideas, doesn't have to play out like this).
Regardless, currently the trend is down, and unless that changes, I will be looking for lower prices. Anything below 500 is a steal from an investment perspective because the stock's fundamentals haven't changed.
Good Luck.
Note: This is not Financial Advice. This is for educational/entertainment purposes only.
Shown in the chart is a classic example of how early institutional investors dump on retail investors. As you can see in the chart, the entire year of 2021 was a distribution range, and once we broke-down from it, there was an accelerated sell-off. Key notes from the chart :
1) Trend shift has been confirmed as market structure has officially changed to lower highs and lower lows on the weekly/monthly timeframe.
2) This doesn't mean we go short now, because we're at strong support and momentum indicators are extremely oversold.
3) Looking for potential lower highs to get into short positions for lower lows (potential positional trade).
4) We could also potentially trend up from here, re-test current lows, and after some accumulation ultimate trend higher.
Possible paths have been shown (just ideas, doesn't have to play out like this).
Regardless, currently the trend is down, and unless that changes, I will be looking for lower prices. Anything below 500 is a steal from an investment perspective because the stock's fundamentals haven't changed.
Good Luck.
Note: This is not Financial Advice. This is for educational/entertainment purposes only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.