F&O Radar| Deploy Broken Wing strategy in HDFC Life to gain from a bullish view
HDFC Life Insurance are trading around the Rs 740 level, maintaining a long-term uptrend and currently in a consolidation phase after pulling back from higher levels.
The stock has stabilized near its demand zone, with a double-bottom pattern emerging on the daily chart, signaling a potential trend reversal.
“A sustained move above the Rs 740 level could trigger further upward momentum, potentially driving the stock toward new highs in the coming sessions, reinforcing its bullish outlook,” said Hardik Matalia, Derivatives Analyst at Choice Broking.
The Relative Strength Index (RSI) is at 62.32 and trending upward, indicating growing buying momentum and a likely continuation of the bullish trend.
Additionally, HDFCLIFE has bounced from its key moving averages, including the short-term (20-day) and medium-term (50-day) EMAs, and is trading above all critical moving averages.
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Stock Valuation Made Easy
By — Rounak Gouti, Investment commentary writer, Experience in equity research
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
Options Scalping Made Easy
By — Sivakumar Jayachandran, Ace Scalper
Stock Trading
Dow Theory Made Easy
By — Vishal Mehta, Independent Systematic Trader
Stock
