Long HDFC Life | Buy on dips till 660 | Possible Breakout

May 23, 2021

1. Around strong support zone 656-665
2. Retracement done from high to low (More than 0.618 fib level) , but currently above 0.618 fib level
3. Consolidation going from few days (possible breakout anytime)
4. MACD about to give crossover*
5. Taking support from almost an year old trendline ( starting from 12 June 2020)
5. Decent delivery percentage (around 40% on 21/ 05 /2021)

TIP : BUY ON DIPS TILL 660....(eg : if you want to take 50 quantity .. take 20 then if goes down take 15 more... then 15more and so on till 660

SL - 654

FAVOURABLE RISK TO REWARD = 2:5 (for Target ->725)

Feel free to share your feedback and queries.

May 24, 2021

Note

Consolidation continues today.
Bottoming out with RSI divergence in 30 min time frame.

May 25, 2021

Note

Exit if it breaks 554 on a closing basis...
still is reversal is expected...even from my side

May 26, 2021

Note

Exit tomorrow if not seen on upside

May 27, 2021

Note

Last 15 minute candle is very bullish....buying momentum can be seen

May 28, 2021

Note

Look at the support line of 656.85. How perfectly it has taken support from there. TV anchors gave Sell call but i am sure it wont be going anywhere

Jun 3, 2021

Note

Target 1 almost HIT... 1-2 points up or down ..you should book partial profits..

Breakout above 686... then we can easily achieve 720 within few days

Jun 11, 2021

Trade closed manually

Exit from here .. showing technical weakness.... we have gained over 4% Thanks

Jun 21, 2021

Note

Those who have not sold it...Book your profits. Almost Target 2 reached