HDFCLife made a triple top formation on 640 levels, on all the 3 attempts huge quantities have been supplied & stock fell.
This time there is abnormally heavy selling volume on the latest 3rd top indicating high pressure around those levels.
Stock is struggling at 600 levels & on its S2 level. Stock may further correct itself till S1 levels around 550 if Nifty corrects next week supporting the fall.
Heavy selling volume indicates short positions and hence a bit more fall expected.
This time there is abnormally heavy selling volume on the latest 3rd top indicating high pressure around those levels.
Stock is struggling at 600 levels & on its S2 level. Stock may further correct itself till S1 levels around 550 if Nifty corrects next week supporting the fall.
Heavy selling volume indicates short positions and hence a bit more fall expected.