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Timeframe: DailyHDFC Life appears to be undergoing a corrective structure in the form of a W-X-Y pattern, indicative of a flat wave formation. Recent price action has seen the stock breaking above key moving averages, namely the 50, 100, and 200EMAs. Notably, there’s a significant resistance zone around 620.The ADX, a measure of trend strength, has climbed to 20, suggesting increasing momentum in the price movement. It’s observed that the impulsive wave (v) of C of (Y) may have reached saturation, hitting a 2.618% extension at 581.95.Anticipating a potential strong upward move, traders are eyeing targets at 636 – 654 – 690. Targets following a breakout above the long-term resistance zone. However, it’s crucial to acknowledge the significance of this resistance level, as failure to breach it could lead to a retracement towards lower lows.Stay tuned for further updates on this analysis.Continue reading
We had written clearly, “Sustained trading below 1647 could indicate further downside potential. Traders may consider the following targets: 1635 – 1622 – 1605+”
Timeline:[05 March 2024]
11:45 AM – NSE INFY hit the Final target of 1605, and made a new low of 1602.
[06 March 2024]
10:45 AM – Price made a new low of 1580.10.
We will keep sharing this type of setup for premium subscribers only.Continue reading
We had written clearly, “If the price breaks out and sustains above the corrective channel, traders can trade for the following targets: 502 – 524 – 542+”
AFTER
Timeline:[5 January 2024]
09:15 AM – Price touched the first target of 502.
[16 January 2024]
10:45 PM – EIHAHOTELS hit the first target of 524.
[18 January 2024]
01:45 PM – Price Achieved the final target of 542, and made a new high of 625.
[7 February 2024]
09:15 AM – NSE EIHAHOTELS made a new high of 818.95.
This Wave setup has given more than 76% return within 2 months.We will update more Wave setups soon.Continue reading
