1. Metropolis has formed a Hanging Man Pattern on the daily chart indicating a downside upto 2100 levels based on Fib-Retracement.
2. Once it bounces back upside is seen towards 2350 levels once 2200 levels are crossed.
3. 2200 level form an important resistance to break as seen in the past few days.
4. The trendlines indicate a good bullish outlook further.
The scrip looks set for further upside based on the monthly and daily trend line.
Once the breakout is seen over the trend line next target seems to be 600 levels.
Keep on radar for intraday as well as medium term gains.
Scrip Name: HDFC LIFE
Time Frame: Daily
EMA: 50 (Black) and 200 (Orange)
Observations:
1. Golden Crossover in progress; expected to complete in the current week
2. Volumes supporting current bullish trend
3. Resistance seen at 601 and 615 levels from previous trading days
4. Support seen at 555 levels
Entry: Above 582.5
Target: 637
SL: 555
