HDFC LIFE INSURANC NSE:​HDFCLIFE

Levels mentioned in the chart!

8 months consolidation breaking out positively.

HDFC life is ready to give breakout. SL 390 Target 410 415 420+

either a breakout or another reversal, this zone is critical. this time it should go up !!

HDFCLIFE Neckline

Stock started in uptrend making higher highs &lows. Buy whenever there is breakout of the previous day high on greater volume than previous day.

HDFC Life could be a good bet at current market price 396

Look at how fibo level is respected beautifully so far.. small support around 380 , its currently in resistance zone around 395-400. Since November , i sense delivery based buying which entice me to see next share holding pattern !

Elliott says wave 2 is deep as folks say old trend is still there and there is another shorting opp but the stock does not break the previous low but retraces 78.6 %.

Even this quarter results were good.

heading south

There are three possibilities. 1. The scrip will immediately move above 387, to close above 4/1 angle. Next target will be 414. 2. It will visit 363 and move up, there by forming a double bottom in the chart, progressive resistance levels will be 387 and 414. 3. It will consolidate, gradually drift to 347 and then will make an attempt to move up from there.

385-395 is an accumulation zone or buying zone for HDFCLIFE with a target of 420+ Its RSI is in over sold zone and it is around 16.

HDFCLIFE has been bouncing off the Neckline a few times . Currently Testing it again, awaiting a Breakout/ reversal.

Should close above 453.50 today. Support (3/1) is at 404.

All levels mentioned in chart. Any suggestions welcome.

....Entry / Exit / SL / TSL mentioned on Chart. Education purpose Only.

Expecting a bounce back frm Support @ 463