Use Bollinger Bands as an indicator in Tradingview.
Buy at the lower band and sell at the upper band.
This makes trading easy.
This is our new recommendation also "HDFC Life"
You can buy it NOW and sell it at the upper band.
*NOTE: ITS BAND CAN VARY ON TRADING DAYS.*
HDFC life has started traversing in uncharted territory overcoming the previous resistances.
Consider buying this stock for long term (10-12 months) , Targets have been mentioned in chart.
Keep stop loss of 630 on weekly closing basis.
*** ideas are my own *** Invest as per your risk Appetite
An inverse Head & Shoulder is visible on the daily time frame. The neckline is around 630-640 region. One should wait for the price to break the slanting trendline and then enter for the targets of 700 (short term) and long term target of 850 (according to Inverse Head & Shoulder).
AS SHOWN IN CHART, INVERTED HEAD AND SHOULDER PATTERN FORMED IN WEEKLY TIME FRAME,
AND INVERTED CUP & HANDLE IN DAILY TIME FRAME.
SHORT TERM TARGET: 705 (AS PER DAILY TF )
MID TERM TARGET: 820
BOTH TARGETS ARE POSITIONAL.
FOR EDUCATIONAL PURPOSE ONLY.
I will look at buying AMBUJACEM because :
HDFCLIFE has broken its major resistance.
It has high chances of reaching 700-900 levels .
It has broken the resistance and that resistance may act as support .
Entry : 660/630
Target : 700/780/900
Stop loss : 600
HDFC LIFE is making an inverted head and shoulder pattern.
Pattern gets invalidated if we get a closing below 555.
So go long this a good stock to keep in your portfolio or for a small positional trade as well.
HDFC life has given proper Inverse Head and Shoulder Breakout.
First target - 780
Final target - 975
We might see some good resistance around 740.
This is not a trade call. It is just my personal opinion. Take your SEBI advisor advice before investing/trading.
HDFC life is now attempting to break a resistance that it has failed to break previously (multiple times)
The resistance testing has been marked with arrows.
A decisive break will be a trigger for a long trade in HDFC LIFE.
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