A stock everyone is talking about..After the twins lighting up all this time..Could this gem continue its journey upwards?
Hdfc at a key resistance level , reversal / breakout expected . High chances of going down with bearish divergence . But short only after a good red candle close .
HDFC Life has been consolidating in the range of 450 on the lower side & 480 on the upper side for last one month. But the Friday move above 485 gave the stock a strong weekly close. Also if we take a look at the weekly chart, we can see that the stock has taken support 21 week MA. So it looks like the stock can go towards channel resistance around 580 in coming weeks.
In weekly/daily, price just bounced from ascending channel support. Also price broke out of falling wedge with good volume, also price closed above upper BB. sl - 450, tgt1 - 545, tgt2 - 580
HDFCLIFE has been respecting the lifetime trendline . Retesting again. Awaiting a breakdown or revercel
08-04-2018 Buy from 510, SL 480, Target 535, T2-560
Hdfclife : long above 505 for a target of 583 SL 495. time frame ~ 15 days