Details as provided in the Chart.
Support: 600 and 594 on Closing Basis.
Target: 630 and then 640+.
Reasons:
1. Rising Trend.
2. Above EMA 89 so Trend is positive.
3. Shorts Covered right from levels of 594.
4. Strong Swing Support on Close Basis 594.
5. First Target 630 followed by 640 if 633 is broken.
6. RS also dominating Nifty.
7. Calls Unwinding on 600 and...
HDFCLife: (CMP: 703)
Fundamentally Sound : Score 7.5/10
Demand Zone : 655 to 677.
Strong Support : 690 to 695 for Short Term
RSI Taking support around 35-40 Levels everytime.
Ideal Trade: Selling 700 PE may be Dec for generating 4% of return on Margin blocked.
The Idea here is to sell the Put (Around Important Level Mentioned) and get some handsome premium.
It is unlikely to go below the Important Level.
More Details in Chart !!!!
Details as in Chart.
Preferred Reasons to Hold and Accumulate the Stock:
1. Took Support at 40 RSI Levels few days back, Little correction could be on cards but still a Buy.
2. Stronger than Nifty.
3. Above 200 EMA for a long term long.
4. 550 around is a strong Demand Zone and out stop loss should be around 540.
