kalyanganguly

HDFCLIFE - Breakout and first pullback done

Long
NSE:HDFCLIFE   HDFC LIFE INSURANC
Note: This is for educational purpose only.

There seems to be a bullish engulfing at resistance turned support post first pullback. RSI at 58 which indicates some bullish momentum.

Comments

There are more RED bars after the breakout (8/10). Is sentiment negative & will the breakout sustain?
Reply
@sam2k, I will wait on this. You are right that the red candles are more but the bullish candle is a wide range candle. This seems that the bullish pressure is back with volume. My SL is 618 so will wait until this is hit. Hope you agree. Happy to be corrected as I am still learning.
Reply
agree 👍
Reply
@Paurik, Thanks!
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