HDFC LIFE : Pullback trade
HDFCLIFE witnessed a breakout from a horizontal trendline and extended gains to a high of 581.
Due to the sharp rise, there was a profit booking, and the price might retrace to the breakout levels , which would now act as a support zone (565-568).
This retracement can be a good opportunity to long in the stock with a good risk reward.
Due to the sharp rise, there was a profit booking, and the price might retrace to the breakout levels , which would now act as a support zone (565-568).
This retracement can be a good opportunity to long in the stock with a good risk reward.
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