HDFC Life Insurance Company Ltd - Break Out Opportunity
Updated
Date: 14-Mar-2024
Rating: Buy - Positional Trade
LTP: Rs. 622.25
Targets: (1) Rs. 648 --> (2) Rs. 710 --> (3) Rs. 746 --> (4) Rs. 775
SL: Rs. 600
Technical View:
•
HDFCLIFE is in its primary uptrend since Mar-2023.
• From Dec-2023 to Feb-2024, It was going through secondary down trend within primary uptrend.
•HDFCLIFE has broke out from its secondary down trend on 1-Mar-2024.
• RSI is at 61.67 which is in buy zone and supporting bullish sentiment.
• MACD is at 6.71 which is giving bullish signal.
•HDFCLIFE is looking strong from here onwards to achieve the historical levels mentioned as targets above.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Rating: Buy - Positional Trade
LTP: Rs. 622.25
Targets: (1) Rs. 648 --> (2) Rs. 710 --> (3) Rs. 746 --> (4) Rs. 775
SL: Rs. 600
Technical View:
•
HDFCLIFE is in its primary uptrend since Mar-2023.• From Dec-2023 to Feb-2024, It was going through secondary down trend within primary uptrend.
•
HDFCLIFE has broke out from its secondary down trend on 1-Mar-2024.• RSI is at 61.67 which is in buy zone and supporting bullish sentiment.
• MACD is at 6.71 which is giving bullish signal.
•
HDFCLIFE is looking strong from here onwards to achieve the historical levels mentioned as targets above.Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Trade closed: stop reached
Closing call and exiting as did not worked as expected.
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