#HDFCLIFE correction gives attractive entry @ 685/665
#swingidea #swingtrade #HDFCLIFE has seen a sell-off after registering ATH of 760 on 2-sep-21 post deal with Exide.
It has broken supports at 724/706 and is heading towards next support at 690.
The RSI has come down to 35 a level around which historically reversals take place.
Also, worth noting that for acquisition of Exide Life Insurance - 4% of the outstanding stock will be issued to LT investor Exide at 785.
Buy - 685-690 and on further falls at 665 ( if it happens)
Target - 740 / 775
Stoploss - 645 ( closing)
Risk Reward : 40: 65 and 40: 100
It has broken supports at 724/706 and is heading towards next support at 690.
The RSI has come down to 35 a level around which historically reversals take place.
Also, worth noting that for acquisition of Exide Life Insurance - 4% of the outstanding stock will be issued to LT investor Exide at 785.
Buy - 685-690 and on further falls at 665 ( if it happens)
Target - 740 / 775
Stoploss - 645 ( closing)
Risk Reward : 40: 65 and 40: 100
