HDFCLIFE
HDFC Life - Long Swing Time Frame PickHDFC Life has seen a breakout from triangle pattern in weekly timeframe.
We will get aggressive once the stock crosses 700, till then smaller quantities / SIP can be done.
All levels marked on chart.
Disclaimer: All investments and trading in the stock market involve risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments is a personal decision that should only be made after thorough research, including a personal risk and financial assessment and the engagement of professional assistance to the extent you believe necessary. The trading strategies or related information mentioned in this article is for informational / educational purposes only.
HDFCLIFE getting good resistance at 690 levelsNSE:HDFCLIFE is getting good resistance at 690 levels after 2 days of consolidation. It will take some serious buying to break 690 and sustain the same. Day before yesterday, we say good buying but that helped it to sustain in 680s range after standard life's bulk selling.
Weekly breakout in HDFC LifeHDFC Life broke out of a 6 month old downtrend (red coloured resistance trendline on chart) with decent volumes. It has also closed at a 3 month weekly closing high. The stock will move higher eventually even if the move is slightly volatile.
Resistance/Target : 720-725 is a recent top and our primary resistance. Once it is taken out, the stock will target the 3 year old resistance TL (blue coloured "Long Term Resistance" trendline shown on the chart). The current level of this trendline is at 780 odd and this is our primary target.
Stop Loss: Longs can be held with a WCB stop loss of 685 to 675 depending on risk appetite
Good short to medium term buy with decent risk/reward.
HDFCLIFE: Double bottom Breakout!The double bottom has been formed in the last month. Stock is trending with strong relative strength in June so far... Even though Today market has retraced by heavy points, But IT, FMGC & Financial service sector always survive and surge in worst conditions
Due to the dollar price have been strong after 7 member did vote in the favour of increasing the interest rates in the USA and 7% of growth has forecasted It will affect the INR currency as USDollar is going to build momentum in upcoming days and the market will lose more points if and only if FII & DII still carry on their selling strategies.
ICICI PRULI 👓👓 lets rakita rakitaLooks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
Check these Upcoming ideas - STILL ACTIVE
Check these successful trades & approach on Britannia , Mothersonsumi , DLF , Biocon , Daawat , Infosys , HBL power , HDFC life , Hind ZINC given below
If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know.
Leave a comment that is helpful or encouraging. Let's master the markets together