Namaste Traders! Sharing a simple yet powerful chart setup on HDFC Life clear structure, strong potential. Let me know your thoughts in comment section.
HDFC Life-: Breakout Setup with 920–950 Target Ahead
HDFC Life is trading inside a rising channel on the monthly chart. After facing resistance near the 740 level multiple times, the price is now testing the rising channel resistance once again.
If the stock gives a close above this resistance, it could confirm a breakout, and the price may move toward the old trendline resistance, which comes around 920 to 950 levels.
Why this setup is interesting-:
Price is respecting the rising channel pattern and momentum is building near a key resistance zone so a breakout could lead to a strong upside move.
Trade Plan-:
Entry Idea: Breakout Close above 770
Target Zone: 920–950
Stop-loss-: Below recent swing low or channel midline (That I will confirm too in updates after execution)
This is a clean breakout setup with a good risk-reward ratio for positional traders.
I am shairing this idea for only learing purpose, Thanks for reading and supporting the idea.
Best regards-: Amit
HDFC Life-: Breakout Setup with 920–950 Target Ahead
HDFC Life is trading inside a rising channel on the monthly chart. After facing resistance near the 740 level multiple times, the price is now testing the rising channel resistance once again.
If the stock gives a close above this resistance, it could confirm a breakout, and the price may move toward the old trendline resistance, which comes around 920 to 950 levels.
Why this setup is interesting-:
Price is respecting the rising channel pattern and momentum is building near a key resistance zone so a breakout could lead to a strong upside move.
Trade Plan-:
Entry Idea: Breakout Close above 770
Target Zone: 920–950
Stop-loss-: Below recent swing low or channel midline (That I will confirm too in updates after execution)
This is a clean breakout setup with a good risk-reward ratio for positional traders.
I am shairing this idea for only learing purpose, Thanks for reading and supporting the idea.
Best regards-: Amit
Ghi chú
Highest weekly closing everGiao dịch đang hoạt động
Got a monthly breakout close at 777 so now horizontal resistance (740) can act as a good support on closing basis. 
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.