When insurance is part of life that means now it is essential in everyones life.
i think 90% knows actual value of Insurance in Corona period. and now it becomes need.
Buy at cmp 750
And add on every dip or go with SIP in same stock.
#hdfclifeinsurance potential breakout continuation
broke out of a resistance zone with a wide range bullish candle. Insurance sector is bullish.
stop loss could be below the breakout and entry could be above current candle high for swing trades
momentum and trend is bullish in all timeframes and breakout is likely to continue more.
ICICI Lombard GIC is one of the leading private sector general insurance companies in India with a Gross Written Premium (GWP) of Rs135.92 billion for the year ended March 31, 2020. The company issued over 26.2 million policies and settled over 1.86 million claims as on March 31, 2020.(Source : Company Website)
Check to the chart for more information !!!
small stoploss and huge targets. again with government showing less involvement in insurance sector and further allowance of FDI might trigger a good move. technically the stock is at trendline resistance, once broken it should follow the marked targets.
HDFC 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...
1. Consolidating in a box having area of 20 points
2. Retracement done from high to low (0.5 fib level)
3. Double Trendline Resistance
4. Decent delivery percentage (around 43% on 14/ 05 /2021)
TWO STRATEGIES :
Buy above 204 for a near term TARGET OF 215-220
SL - 199 (daily closing basis)
ACCUMULATE TILL 0.618 fib level.... a good move till 240 can...
Stock has been supported multiple times from the same zone making the zone weaker.
If breaches 660 then can go short.
For swing wait for hourly candle close below 660.
P.S. If taking for swing then do with proper Risk to Reward only since its a very volatile stock and ideally not suited for swing
The current price of 345+ is near the bottom with 360+ being the firm resistance level. If it crosses this level with conviction over short term, the potential is quite high due to the higher ceiling of previous cycles going upto +450.
Enter @ 360+
Potential + 450
Key resistance on path - 385/ 395 - previous pivots
Risk reward: 15:60 - i...