Topic Statement: HDFC Life is experiencing minor selling pressure despite NIFTY's sharp correction.
Key Points: 1. The stock has formed a head and shoulders pattern, indicating potential weakness. 2. The price is moving within a down trending channel, reinforcing bearish sentiment. 3. Currently the stock is taking support at the 50% retracement level. It may fall to the 61.8% retracement level, finding strong support around Rs 600.