HDFCLIFE is near support line of channel patternNSE:HDFCLIFE large cap stock trading at 30% below it all time high formed a year ago (2021-09-02) is near the support of channel pattern formed from its inception in 2017.
Fundamentally strong company with good PE ratio, Dept to asset ratio, financially good revenue and profits, holdings wise no major sell off, consistent dividend payer.
Short term : For short term gains, buy at channel bounce around 530 and above and exit at 15% gains.
Long term : Since the channel is formed from 2017, higher gains can be obtained in long term by accumulating more at lower levels. Buy around 530 (optional) and average around 450, more at lower levels. Exit can be near the resistance reversal or after breakout (if any). This can nearly provide 70% for full up move.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
