HDFCLIFE
Hello People!
HDFC life as you can see is stuck in a channel.
I see a really good opportunity here as there is a high probability for a swing reversal.
I have three major reasons for entering this trade. First is purely the price action i.e the stock being at the bottom of the channel and might be taking a swing up from here.
Second is the presence of a good weekly 50 EMA.
The third is the presence of a strong support zone
Also, the Risk to Reward ratio is too good to ignore here.
It would be great if you let me know your views on this!!
HAPPY TRADING!!
*STRICTLY NOT A BUY CALL*