Here is my 2 cents on HDFC LIFE as why I am very bullish on the stock 1.Inverse Head and Shoulders pattern on daily and weekly time frame. 2.Decending Triangular pattern on upside, signifying continuation of major trend i.e., uptrend. 3.100 day Moving Average support. 4.3rd time taking support on the trend line. 5.Stock taking support 3rd time at 0.236 Fibonacci...
Bank Nifty(spot) exactly faced resistance at 25232 where 200 day MA and gap resistance area is present, it recently broke the wedge pattern on the upside and mostly just coming back to retest , watchout for 23900 levels where 50% fib retracement level lies , if sustained further upmove is possible. Personal view: Bullish as long as 23900 levels hold. Disclaimer:...