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HDFCLIFE

Is It Right Time To Go With HFDC Life Insurance Ltd.?Technical Overview (Weekly Chart): On a weekly chart picture is clear, the stock price has made a lifetime high around 650 and fallen from the same levels trice. However, if we see a sequence of falls and rise, then it is clearly showing 85% completion of Inverted Head and Shoulder. Right now the second shoulder is not completed, but it is indicating rally till lifetime high. Major bullish chart pattern on a large time frame, it is a good sign of long term. Daily Chart: Now come to the small picture and price is trading in a down channel. It is trading below the 20 & 50 DMA and many times resisted from the same levels. Today price has crossed and closed above both DMA, and volume is good. If we see the line chart then the stock has made Double Bottom and now ready for a breakout. Once it breaks the previous Lower High, then the trend will change and there is one small hurdle around 610 between lifetime high. Fundamentals: The company is providing life insurance and due to COVID-19 demand has increased. The company is virtually debt-free and expecting good quarterly results. The return on equity is around 20%.
NSE:HDFCLIFELong
by Sagar_Rajput