HDFC life is trading in a channel and is now again at its lower channel trendline and it makes a good opportunity to go long!
There are multiple other reasons to go long:
1)Presence of a strong support zone
2)Support from strong 50 week EMA
3)Support from 200 daily EMA
Furthermore, the Reward to Risk ratio is also favorable.
The markets have been erratic with a lot of FII selling this month. It's advisable to trade with a lesser quantity than usual and add further if the trader goes as per the analysis.