CANHLIFE: Descending Trendline Breakout - CMP 147.10Canara HSBC Life Insurance Company LimitedNSE:CANHLIFESaadMJAfter consolidating for several months under a descending trendline, CANHLIFE has finally broken above it with a strong bullish candle supported by above-average volume. What stands out: Breakout above a multi-month descending trendline. Strong bullish candle closing above resistance. Significant increase in volume, indicating buying interest. Higher lows over the past few weeks suggest accumulation before the breakout. Key levels: Support: ₹145–146 (previous trendline resistance) Resistance: ₹155–158 If ₹158 is cleared: The next zone to watch is around ₹165–172. Trading plan: A successful retest of the breakout zone could offer a low-risk entry. As long as the price stays above ₹145, the bullish structure remains intact. A close below this level would weaken the breakout thesis. This is a breakout setup, not a confirmation yet. The next few sessions will determine whether this turns into a sustained uptrend or a false breakout. Disclaimer: This is my personal technical analysis based on price action and volume. Please do your own research before taking any trade.