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

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.

Comment:

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

Comment:

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

Comment:

Exit tomorrow if not seen on upside

Comment:

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

Comment:

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

Comment:

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

Trade closed manually:

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

Comment:

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