HDFCLIFE is in a Range since it has been listed in the market and is continuously making higher highs and Higher Lows in a weekly time frame which suggests that it is in a UPTREND and therefore can be bought at the last support level for a potential next upswing.
It has come back to its support and further trading at the trendline where potentially it can take support.
A very short risk can be taken for a potentially big profits at this level, which makes it a highly favorable trade in risk reward ratio perspective.
ENTRY - can be made at the same level i.e. 495
Stop Loss- at the last low i.e 470
Reward - at the last resistance i.e 600 and then range resistance and then at next resistance i.e. 650.
*This is HIGH RISK HIGH REWARD trade. Use Stop Loss POSITIVELY in the market.
*preservation of capital in the market is the first step of a profitable Trader.
It has come back to its support and further trading at the trendline where potentially it can take support.
A very short risk can be taken for a potentially big profits at this level, which makes it a highly favorable trade in risk reward ratio perspective.
ENTRY - can be made at the same level i.e. 495
Stop Loss- at the last low i.e 470
Reward - at the last resistance i.e 600 and then range resistance and then at next resistance i.e. 650.
*This is HIGH RISK HIGH REWARD trade. Use Stop Loss POSITIVELY in the market.
*preservation of capital in the market is the first step of a profitable Trader.