The share is at a make or break level. The budget was not in favor of the insurance sector.
As per the parallel channel the share is at a support level. Mostly all the insurance company saw a correction today.
Tomorrow the market should give us a positive candle i.e. confirmation candle. Post which we can buy the share.
Please let me know your thoughts by...
NSE:HDFCLIFE closed a candle below its trendline a few days back but yesterday it recovered and gave strong closing. This time we can see it closing above 560 levels. It has been a laggard stock for me. For the last 1.5 years it has been 20% down in my portfolio.
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
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Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the...