HDFCLIFE trade ideas
HDFC LIFE BREAKOUT STOCK 20/10/21HDFC life is Trading Just ABOVE 1.19% DMA
and in 15 min Time Frame it is Trading in FLAG PATTERN
and Yeaterday it had Broken Falling wedge
Levels for 20/10/2021
buy above 705 TGT-1 709 TGT-2 711 TGT-3 713 TGT-4 715 Max 720 (Week TGT-738/750)
sell below 702 TGT-1 699 TGT-2 696 TGT-3 693 TGT-4 690 Max 685 (Week TGT-686/673)
Accumulation in HDFCLIFEHDFCLIFE is a pretty bad stock from a fundamental perspective. But from the VSA we can see that the institutions are finding some value in it. It's almost debt-free and has reported 513cr of income from some other source. It's in a testing phase. It would be a really good buy if there's a sudden upthrust.
HDFCLIFE - Pullback TradeThis is excellent timing for a trade-in HDFC life, considering the stock did a breakout a few weeks ago and then started pulling back to the immediate support.
Last week stock formed at spinning candle at the support zone: 717- 725.
Currently, the stock is trading around 729, and if it sustains 700 levels, it mostly is then moving towards 788 and 833 in the coming weeks and months.
Type of Trade: Long -Positional, Pullback trade.
Hdfc life insurance Hdfc life insurance, this stock seems to have completed wave (II) of 3, as macd in weekly turned positive above zero line, as per price action this stock has given breakout with good intensity of volume in both weekly and daily time frame, wave structure suggests that now the stock is in wave (III) of 3, as wave (III) unfolds that can possibly push stock higher price zones near 958, one can go long at these levels or in dips (if any) with stop loss of 655, all the key levels are mentioned in chart with stop-loss and targets.
Key levels are mentioned on chart
Breakout in weekly with good intensity of volume
Breakout in daily with good intensity of volume
Wave Structure in Weekly
Macd in weekly positive crossover and Uptick and also above zero line
Rsi in weekly uptick and also above 60
Rsi in daily above 60 but waiting for uptick
Dmi adx also positive with ungali setup in weekly
Price above Upper bollinger band in weekly
Disclaimer
I am not sebi registered analyst.
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing.
HDFC Life Short Term ReversalThe stock has breached lower trend line and took support in nearby support + 200 EMA due to results and might be in for a high risk reversal rally. Trade is supported by brokerage calls and major supports before SL levels. Target is placed near all time high with a risk reward ratio of 2:1. Any Breach in the major support level below should signal exit.
Caution : High Risk Trade.