Falling wedge in HDFCLIFE - Signs of Trend Reversal?HDFC Life Insurance Co. Ltd.NSE:HDFCLIFEMurthy_Santhosh TF: Daily Cmp: 550 Falling wedge formation was seen at the support levels, RSI, MACD all pointing upwards. Enough consolidation was done at the lows I believe and the stock could head higher. Looks like a low risk set up with SL at 530-540 levels and can push higher towards 200 DEMA at 620 or so. The key is to breakout from the wedge, and the 50 DEMA (the orange line at 560), which has been acting as a strong resistance so far Price has bounced strongly from the same level in the past as well (Jun-Jul 2024) Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.