HDFC LIFE; it has been consolidated since long; it is again coming at demand zone; its downside is less & fundamentally strong; keep patience & hold for few months; no sl; you can easily get 20 percent gains; enjoy ;
NSE:HDFCLIFE
Observations:
1) On 1hr time frame, we can see it has major suppor range of 660-665 level range.
If it sustain above it then we can see an good upmove.
Also we can see the resistance Trendline.
Please refer below chart : 1hr Time Frame.
-------------------------------------
Trade Setup for Date: 16-12-2021
1) Don't Jump in to trade...
HDFC Life Insurance Company Ltd - 05.12.2021
The stock is trading @ 691 levels
There is an Engulfing Bear in daily chart
The prices are below ema
Stochastic overbought in daily chart
The stock is trading under a Channel Range
Let the prices go below 687
watch out for the price action
HDFC Life looks a good buy if sustains above 706 for the marked targets until 688 is intact on a closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
HDFC LIFE ek din market ek hi jagah pr hold kiya hai jaise hi market 740 ke up close hota hai to hmm log buye kre ge aur T1 760 baniye ge ok , aur marke niche jab aaye to is 729 level ko breack hone ke bad hmm log sell kre ge aur 200 ema fist T1 leye ge
*Support Zone
*In a Range for many Days
*Falling Volumes
If 660 Support Zone break Short Tgt Is 620
if 679 Resistance zone will break then Long TGT Will be 720
*Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only ********
I am not a SEBI registered adviser. All the information provided by me are for...
![HDFCLIFE: Simple Trade Setup | HDFCLIFE | 16-12-2021 [ INTRADAY ]](https://s3.tradingview.com/v/vHvTCE2J_mid.png "Simple Trade Setup | HDFCLIFE | 16-12-2021 [ INTRADAY ]")
