Buy HDFC Life Insurance Company, target Rs 450: Aditya Agarwala – Economic Times

Buy HDFC Life Insurance Company, target Rs 450: Aditya Agarwala

Aditya Agarwala of Yes Securities has a buy call on HDFC Life Insurance Company with a target price of Rs 450.The current market price of HDFC Life Insurance Company is Rs 408.30.

Time period given by the analyst is two weeks when HDFC Life Insurance Company price can reach the defined target.

“On the daily chart, the stock has broken out from a trendline resistance joining recent highs triggering resumption of the uptrend in the stock. A sustained trade above 405 with healthy volumes would take the stock higher to levels of Rs 425-450. Further, on the daily chart it has also broken out from an Ascending triangle pattern neckline backed by healthy volumes affirming the bullishness. Moreover, RSI has turned higher making higher lows indicating that bulls are in control in the stock.

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