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Price and trend forecast of HDFCLIFE for Tomorrow, Weekly, Monthly

HDFC Life Insurance Company Limited

Symbol: NSE:HDFCLIFE

ISIN: INE795G01014

618.50

As on 2024-04-12

509.55 (52W Low) 710.60 (52W High)

HDFCLIFE's Today's Performance

HDFC Life Insurance Company Limited started the day by opening at 621.00 today 2024-04-12. Its shares reached a high of 624.00 and dipped to a low of 616.25 in intraday. When the markets closed, HDFCLIFE’s stock price settled at ₹618.50 per share. Also check out its key support and resistance levels.

HDFCLIFE Buy/Sell Targets

Tomorrow, sell HDFCLIFE when its price reaches ₹ 618.50 with a stop-loss order at ₹ 623.73. You can set the target price as ₹ 613.28 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of HDFCLIFE for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for HDFCLIFE

Resistance Levels Value in ₹
Tomorrow Resistance 1 623
Tomorrow Resistance 2 627
Tomorrow Resistance 3 631

Important Supports for HDFCLIFE

Support Levels Value in ₹
Tomorrow Support 1 615
Tomorrow Support 2 612
Tomorrow Support 3 607
Based on where the stock opens tomorrow, if HDFCLIFE opens on a positive note, our first target will be ₹623. If Target 1 is achieved, we will aim for Target 2 which is ₹627.

But if HDFCLIFE falls below the average value of ₹619.58, you can enter a sell side position with target number 1 - ₹615 and second target - ₹612 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of HDFCLIFE

Looking at HDFCLIFE, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, HDFCLIFE has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for HDFCLIFE is moderate bearish.

Tomorrow's Volume based share price Forecast for HDFCLIFE

HDFCLIFE's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -9%.

Reversal detection for HDFCLIFE

Predicted trend chart of HDFCLIFE tomorrow for price forecast
HDFCLIFE may trend may continue to be bearish since stock is making lower low and we can get target of ₹626 in morning tomorrow
Target 1 tomorrow623
Target 2 tomorrow624
Target 3 tomorrow627
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with HDFCLIFE's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if HDFCLIFE opens on a positive note, our first target will be ₹622.92. If Target 1 is achieved, we will aim for Target 2 which is ₹627.33.

But if HDFCLIFE falls below the average value of ₹619.58, you can enter a sell side position with target number 1 - ₹615.17 and second target - ₹611.83

HDFCLIFE's Weekly Targets
1st Up Target 633.02
2nd Up Target 647.53
1st Down Target 610.12
2nd Down Target 601.73

As the week for HDFCLIFE ended on bearish sentiments, we can expect further continuation of this sentiment. HDFCLIFE's initial target will be 633.02 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 610.12 in the upcoming week.

Weekly OHLC Values
Open 630.00
High 639.15
Low 616.25
Close 618.50

Week for HDFCLIFE started with an open price of 630.00, and the close was at 618.50. HDFCLIFE reached the highest of 639.15 and dipped lowest up to 616.25 last week. This indicates a bearish sentiment for the week.

HDFCLIFE full month swing targets
Monthly Up Target 1 655.92
Monthly Up Target 2 670.43
Monthly Down Target 1 587.22
Monthly Down Target 2 555.93

Targets of ₹655.92 can be expected to be reached in the coming month. Once HDFCLIFE achieved this target, we can aim for the next upside target of ₹670.43.

HDFCLIFE if fails to hold upside, down targets of ₹587.22 and ₹555.93 can be achieved by end of this month.

For complete three weeks if HDFCLIFE is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as HDFCLIFE

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

HDFCLIFE is expected to reach the target of 622.92 in tomorrow's trading session.

After achieving the initial target in HDFCLIFE, we will aim for higher targets of 627.33 tomorrow.

However, if HDFCLIFE starts to trade below ₹619.58, then we will shift our focus to the sell side and aim for down targets of 615.17 and 611.83.