Technical Setup: Hdfc Life Gears Up for 20% Upside
Namaste Traders! Sharing a simple yet powerful chart setup on HDFC Life clear structure, strong potential. Let me know your thoughts in comment section.
HDFC Life-: Breakout Setup with 920–950 Target Ahead
HDFC Life is trading inside a rising channel on the monthly chart. After facing resistance near the 740 level multiple times, the price is now testing the rising channel resistance once again.
If the stock gives a close above this resistance, it could confirm a breakout, and the price may move toward the old trendline resistance, which comes around 920 to 950 levels.
Why this setup is interesting-:
Price is respecting the rising channel pattern and momentum is building near a key resistance zone so a breakout could lead to a strong upside move.
Trade Plan-:
Entry Idea: Breakout Close above 770
Target Zone: 920–950
Stop-loss-: Below recent swing low or channel midline (That I will confirm too in updates after execution)
This is a clean breakout setup with a good risk-reward ratio for positional traders.
I am shairing this idea for only learing purpose, Thanks for reading and supporting the idea.
Best regards-: Amit
HDFC Life-: Breakout Setup with 920–950 Target Ahead
HDFC Life is trading inside a rising channel on the monthly chart. After facing resistance near the 740 level multiple times, the price is now testing the rising channel resistance once again.
If the stock gives a close above this resistance, it could confirm a breakout, and the price may move toward the old trendline resistance, which comes around 920 to 950 levels.
Why this setup is interesting-:
Price is respecting the rising channel pattern and momentum is building near a key resistance zone so a breakout could lead to a strong upside move.
Trade Plan-:
Entry Idea: Breakout Close above 770
Target Zone: 920–950
Stop-loss-: Below recent swing low or channel midline (That I will confirm too in updates after execution)
This is a clean breakout setup with a good risk-reward ratio for positional traders.
I am shairing this idea for only learing purpose, Thanks for reading and supporting the idea.
Best regards-: Amit
Nota
Highest weekly closing everDagangan aktif
Got a monthly breakout close at 777 so now horizontal resistance (740) can act as a good support on closing basis. 
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Penerbitan berkaitan
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.