HDFC Life bounced off from channel support

HDFC Life has been consolidating in the range of 450 on the lower side & 480 on the upper side for last one month. But the Friday move above 485 gave the stock a strong weekly close. Also if we take a look at the weekly chart, we can see that the stock has taken support 21 week MA. So it looks like the stock can go towards channel resistance around 580 in coming weeks.


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