Keep your eye on HDFC LIFE it's on the verge of a finishing bullish flag. Today it has moved 3% from a confluence zone of 566 which is 50% of the pole and strong horizontal support and very strong support of the 100ema.
Always try to find a confluence zone. Confluence zone means where most of the indicator (not oscillator and indicators) meets in the same zone. Like in this stock 100ema standing at 567, 50% of the pole is standing at 566 and the horizontal support is standing at 565.5, and 20ema on the weekly chart is standing at 567, So the zone of 565-567 is the confluence level. The possibilities of reversal from this zone are always high. I am also expecting an Inverted Head and Shoulder Pattern on this stock.
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