HDFC Life is in a closing triangle with a strong support zone shown in red rectangle and closing wedge waiting to be broken. The 50 MA is still far away so a good buying should be when it breaks and sustains 687 and Targets can be considered respectively.
Above 725 you can keep and open target trailing your stop loss.
You can always do back testings on Day/Week/5min charts as per your experience and track the stock results to have a stronger view before taking any trade.
This is just my personal study and analysis. Do not trade on the basis of just my study. Do your own research as well.
Above 725 you can keep and open target trailing your stop loss.
You can always do back testings on Day/Week/5min charts as per your experience and track the stock results to have a stronger view before taking any trade.
This is just my personal study and analysis. Do not trade on the basis of just my study. Do your own research as well.
Comment:
As mentioned wait for the consolidation to finish and then only initiate a buy above 687.