LIVE Market Technicals with CK Narayan

LIVE Market Technicals with CK Narayan

LIVE Market Technicals with CK Narayan
ET CONTRIBUTORS
Synopsis

One of the stocks that came back into the reckoning in the insurance space is HDFC Life.

ET CONTRIBUTORS
CK Narayan of Chart Advise, Dalal Street's most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!

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If you care to look at technical charts before taking investment/trading decisions in the stock market, this is the place you should be visiting regularly. CK Narayan of Chart Advise, Dalal Street's most seasoned and arguably senior-most expert in market technicals, will share his technical tips on the go right here on this page. Stay logged in!

HDFC Life: Is the momentum returning?
One of the stocks that came back into the reckoning in the insurance space is HDFC Life. Using Neotrader Trend dials, we can note that the stock's move has just about picked up as shown by the momentum gauges in intraday, daily and weekly time frame placed at a neutral level. Above these dials, one can note the Ichimoku levels. It can be seen that the prices are currently into the cloud on the daily charts and a move past Rs 608 can now create a Kumo Breakout trade. Note that the Kijun line is at Rs 592 and can function as the stop loss. One can also note that the Tenken line is still below Kijun and once there is a positive crossover of the two, the pace of advance can gather further momentum.

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(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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