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HDFCLIFE

HDFC LIFE INSThis stock has been in an uptrend since the past month, thus, it will be showing some correction. The stock is forming an ascending wedge which is a sign of weakness in the price action. The price has not been able to push past the resistance level i.e. 608-610 level. The price is going to move towards the 565-570 level. Thus, I would insist no fresh position should be acquired at this point. According to fibonacci retracement, the price is bouncing up and down in the 23.6% level but further uptrend is highly unlikely. HDFC Life will be bearish for the next 5-6 trading sessions. Acquire fresh positions once the uptrend is confirmed. Thanks P
NSE:HDFCLIFEShort
by PrateekVerma
Hdfclife daily chart had formed a Bat pattern#HDFCLife : Hdfclife daily chart had also formed a Bat pattern and currently trading around its prz zone. This pattern is important because its prz aligned with the important price action resistance at 600 levels. Watch price action carefully in the zone of 595-616. At this time, where the market itself is at critical levels, many leading stocks have similar pattern formation. Take a little challenge and post charts having a bat pattern in place and ask me questions, where are you are finding difficulty in identifying the pattern. Share it for wider participation
NSE:HDFCLIFEShort
by manuagarwal21
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