HDFC LIFE taking crucial support on trend lineHDFC Life is from one of the sectors that are very strong and is expected to grow a lot in the future.
HDFC Life is taking support on the trend line once it crosses 700 levels we can see good upside movement.
A very good share for both long-term and short-term purposes.
HDFCLIFE trade ideas
HDFC LIFE INSURANCE - Swing and IntradayStock 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
HDFC life is an opportunity or a trapeNSE:HDFCLIFE
It is been observed many times that indications on charts are cunfusing as in this chart trend line breached so trend is negative but price is stil above crucial resistance (now it is support).
What should one do if he has to take a decision.
1) Take this buy trade
2) Avoid this trade
3) Play the trade in reverse
What.??
HDFCLIFE Positional View !!!HDFCLIFE : cmp: 686.35
After a significant correction took support near 650-660 zone and bounced back from here.
Also a long bullish candle has been formed.
Above 689 huge short covering possible.
So keep an eye !!!
TGT 706/714/729/744
Sl 659 clbs
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.