HDFC LIFE INS CO LTD
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Long Term Resistance broken and holding Support + EMA Bounce

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642 region was a long term resistance for HDFCLife. It was first touched in October 2019 and later tested twice, but couldn't breakthrough. On 17th November the region was broken with a long green candle and the region now acts as a Support.

Also, the EMA bounce concept supports a long entry. The price had entered the region between 10 & 30 EMA and now has come above 10 EMA. Hope to ride the stock along with the EMA.
Nota
Consolidating for a while. If closes above 672 levels, can expect a good positive momentum.

If closes below 635, may consider squaring off in loss.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.