HDFCLIFE
HDFC LIFE: Ready to move up again, or remain sideways & correct?HDFC LIFE: The trend has been dominant up, the stock has doubled in just eight months time. During thr the last couple of weeks, the stock has been into correction. Now taking rest at the kumo. The RSI is also bouncing from the bullish oversold extreme. MACD is into bullish zone, prices are trading below the ks line, a move above the KS line will re establish bulls into the stock, however if the stock falls into the kumo then, it may drift sideways and some deeper correction may be noticed.
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HDFC Life - Good Chart on weekly timeframeThere has been single side move on weekly timeframe since Apr 2019. Now expecting correct to happen at least till 38% (530) or 50% (494) Fibonacci levels, that would be good buying opportunity.
But not sure it would come to that level or not.
On weekly chart it is closed below 50 EMA
HDFCLIFE - BUY signal given by the strategyHDFCLIFE came under the scanner yesterday through the trading strategy that I use (blue dots at the bottom signifies the pattern). The strategy gave the BUY signal today.
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Scroll left on the chart to see how the system gives buy and sell signals, with prices & stop loss mentioned therein. We are only looking for quick spikes here through this system, ranging anywhere between 3-15 days... No long-term trades.
More information on the system can be found on www.tradewithpuneet.com or by clicking here -->
HDFC price ction and channel trade set uphdfc ltd respected channel again and may hold for a while but overall looks very weak thus for trading stop loss long side will be yesterday low while for short opportunity wait and pull trigger