HDFC Life Insurance Company Ltd - Break Out OpportunityDate : 14-Mar-2024
Rating : Buy - Positional Trade
LTP : Rs. 622.25
Targets: (1) Rs. 648 --> (2) Rs. 710 --> (3) Rs. 746 --> (4) Rs. 775
SL : Rs. 600
Technical View:
• NSE:HDFCLIFE is in its primary uptrend since Mar-2023.
• From Dec-2023 to Feb-2024, It was going through secondary down trend within primary uptrend.
• NSE:HDFCLIFE has broke out from its secondary down trend on 1-Mar-2024.
• RSI is at 61.67 which is in buy zone and supporting bullish sentiment.
• MACD is at 6.71 which is giving bullish signal.
• NSE:HDFCLIFE is looking strong from here onwards to achieve the historical levels mentioned as targets above.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
