Hello Traders,
initial assessment of HDFC Life Insurence.
After going public HDFC Life has risen to 548.25. This move look correctiv, and after completing it, a decline which shows a „five-down“ took place. This move is not finished.
Note the alternation in EW-terms between wave 2 and 4. As wave 2 went sharp and quick, wave 4 took the shape of a sideways move and...
Observed a small head and shoulders pattern and moving towards its strong support of 356.
We may expect a minor pull back up to 380 and may retest the same.
