s.arun.natesh
Long

SBI Life - Gets back to life

NSE:SBILIFE   SBI LIFE INSURANCE
Fundamentally strong, SBI Life went through an unwarranted correction during the pandemic.We have been buying at lower levels. Now, the price is at a nice resistance zone which it had tested on 2 previous occasions and finally closed above the level today. It has been making a series of higher lows. Last few days has seen a spurt in volumes. Multiple indicators have turned positive. The stock has also moved above the Ichimoku cloud on the daily chart . ADX has also turned positive. With price action and momentum in its favour, it is Good to take a fresh long position at 781 with a target of 872 and a SL of 750
Comment: Strong momentum continues in the stock. I will now up the target tp 1000/-

Comments

A nice call. Appreciated
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