1) The present upside started on 15th Feb 2016 indicated by a Positive Divergence and since then price is moving within an uprising channel. 2) Within this channel, price made 3 tops and 2 dips. Dips were supported by 50 Week MA. 3) On 27th August 18, a Negative Divergence was formed and the same triggered on weekly as well as daily charts. So price is heading...
After Budget-2018,Nifty fell from life time highs and took support near Fib 0.618 levels.. From lows of That level,started a new trend up to 11760 zones.. Not its retracing and may take support near 11070,which is the swing high of Jan-2018 as i mentioned in my earlier analysis.. Below 11070,i think there is no support till 10850/10800..
NS 50 moving as expected and broken 11000 mark and made a low at 10866. What Next ? Expecting NS to play in between day's low and 11150 for the next 4 days upto settlement with a downward bias. It can go near the low +/- 40 points and make a bottom to move up again. In the normal case this is expected and in a worst scenario NS can go down upto 10500-600...
385-395 is an accumulation zone or buying zone for HDFCLIFE with a target of 420+ Its RSI is in over sold zone and it is around 16.
Bonus 1:2. So re-valuations will be keeping the stock stagnant.