HDFCLIFE short positionThe price is respecting upsloping support. However it is approaching horizontal resistance.
Our strategy is to enter short position once the price breaks the upsloping support and back tests it and confirms it as a resistance.
The target: 458.20$
In validation of this thesis would be if the price comes back above the upsloping support
HDFCLIFE trade ideas
HDFCLIFE - Weekly AnalysisIn the Weekly Chart of HDFCLIFE ,
we can see that, it showed a false breakout at 590 level and we saw a drastic fall.
Also it did not hold at 200 EMA.
Currently it is taking support at trendline.
If you want to enter in HDFCLIFE , Let it form a Bullish Candle or Bullish pattern.
HDFCLIFE - BREAKOUT TRADEHDFCLIFE has been struggling to get past 600 levels since the start of 2022, every time prices reach there, it corrects all the way down.
Currently, prices are again at 600 levels and now price action is giving positive signs, that breakout might happen this time.
Price should sustain above 550 levels.
Above 600, it might test 650 levels very fast.
Wait for a breakout or buy on dip with strict stop loss.
HDFCLIFE LONG (INTRADAY DEC 20)Hello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
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HDFCLIFE
Daily : Stock is in uptrend.
15 min : It has currently made Cup and handle pattern.
*Wait for the breakout and we could see an upside movement.
THANK YOU !!!!