HDFC Life Insurance Company Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for HDFC Life Insurance Company Limited
(Updated on May 31, 2024)
The HDFC Life Insurance Company Limited stock price fell by -0.163% on the last day (Friday, 31st May 2024) from ₹550.75 to ₹549.85. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.78% from a day low at ₹546.55 to a day high of ₹556.30. The price has fallen in 7 of the last 10 days and is down by -3.57% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately ₹5.34 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.13% during the next 3 months and, with a 90% probability hold a price between ₹448.34 and ₹506.14 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HDFCLIFE.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 1.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The HDFC Life Insurance Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹562.27 and ₹574.41. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for HDFC Life Insurance Company Limited stock
HDFC Life Insurance Company Limited finds support from accumulated volume at ₹548.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹9.75 between high and low, or 1.78%. For the last week the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HDFCLIFE.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect HDFC Life Insurance Company Limited to open at ₹550.90, and during the day (based on 14 day Average True Range), to move between ₹537.93 and ₹561.77, which gives a possible trading interval of +/-₹11.92 (+/-2.17%) up or down from last closing price. If HDFC Life Insurance Company Limited takes out the full calculated possible swing range there will be an estimated 4.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹548.55 (0.24%) than the resistance at ₹605.65 (10.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HDFC Life Insurance Company Limited stock A Buy?
HDFC Life Insurance Company Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.173 Sell Candidate Unchanged
Predicted Opening Price for HDFC Life Insurance Company Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹550.90 ( 0.191%) | ₹549.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HDFCLIFE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 560.65 | 1.96 % | |
| R2 | 556.93 | 1.29 % | ||
| R1 | 554.62 | 0.87 % | ||
| Current price: | 549.85 | |||
| Support | S1 | 547.18 | -0.486 % | |
| S2 | 544.87 | -0.90 % | ||
| S3 | 541.15 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 626.90 | 14.01 % | |
| R2 | 626.35 | 13.91 % | ||
| R1 | 605.65 | 10.15 % | ||
| Current price | 549.85 | |||
| Support | S1 | 548.55 | -0.236% | |
| S2 | 539.55 | -1.87% | ||
| S3 | 0 | . |
HDFCLIFE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2024 | Jun 21, 2024 | Aug 14, 2024 | ₹2.00 | 0.364% |
| 2 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ₹1.90 | 0.312% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ₹1.70 | 0.284% |
| 4 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | ₹2.02 | 0.294% |
| 5 | Mar 04, 2019 | Mar 14, 2019 | Mar 22, 2019 | ₹1.63 | 0.449% |
FAQ
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