HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of life insurance plans, such as term insurance plan, women’s plan, health insurance plans, child education plans, unit linked insurance plans (ULIPs), and savings and investment plans.As on March 31, 2019 the Company had 38 individual and 11 group products in its portfolio, along with 8 optional rider benefits, catering to a diverse range of customer needs. It has approximately 410 branches in over 900 cities and towns in India.

2019-12-21-HDFC-Life-Stock-Chart

SHORT TERM PERSPECTIVE

Company HDFC Life Insurance Company Ltd.
Recommendation Accumulate (Rs.600-Rs.605)
CMP Rs.612.70
Stop Loss (SL) Rs.565
Target Price Rs.675
Time Horizon 2-4 Weeks

 

2019-12-21-HDFC-Life-Stock-Graph

Source: Capitaline Database, EWAL Research

Intermediate and long term trend is up in this stock. After a decent upward move, price consolidated in a range between (565-600) and now  gave a breakout above this range . Also stock is trying to reverse from 50 day EMA which  has act as a major support in previous days. Stock is continuously trading with higher top higher bottom pattern formation on daily as well as on weekly chart; this is a bullish pattern in nature. A bullish RSI and MACD buy signal has emerged on the Daily chart. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current level, so one can initiate accumulation between Rs. 600 – Rs. 605 with a stop loss of Rs. 565 (Closing Basis) for the target price of  Rs. 675.Time frame should be 2-4 weeks.


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