HDFC Life Long opportunity

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*