LearnersParadise

Hdfc Life:- Price action suggesting buy

Long
NSE:HDFCLIFE   HDFC LIFE INSURANC
Price action lovers must be watching it like a hawk but we have lot of things to understand. Let's try to understand few...
1. Price action is showing that it has stopped making new lows.
2. Made a W Pattern already(We just need to wait for the neck line break).
3. Taking support at 200 EMA with gap also acting as support.
4. Volumes ? dont forget to look at the towers marked in circle.
1 Question for everyone who generated those volumes? You? Me? someone big?
6. Trendline break with confirmation is necessary.
Levels will be plotted on chart.

Keep an eye folks. Cheers and Happy Trading.
Trade closed: target reached: Target 1 reached