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 went even longer. The decline since 409.40 is not all, but a good portion of a possible wave 5 of C! A decline below 344.40 will set the stage for another leg down.
But for now it fulfill the complete pattern of a five-down!
At 344 price hit this level for a second time, after 2017-11-17. If this level will beaten down, the doors are open to the low at 307, the low of the first tradingday.
Below this price, there is nothing. No support, no nothing and may the doors will be open for a dramatic decline.
Let`s look how this stock will perform in the coming weeks.
Have a great Sunday
ruebennase
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 went even longer. The decline since 409.40 is not all, but a good portion of a possible wave 5 of C! A decline below 344.40 will set the stage for another leg down.
But for now it fulfill the complete pattern of a five-down!
At 344 price hit this level for a second time, after 2017-11-17. If this level will beaten down, the doors are open to the low at 307, the low of the first tradingday.
Below this price, there is nothing. No support, no nothing and may the doors will be open for a dramatic decline.
Let`s look how this stock will perform in the coming weeks.
Have a great Sunday
ruebennase