HDFCLIFE Monthly: Channel Support in Focus After Sharp Fall

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HDFCLIFE is still holding its overall uptrend, as it continues to respect the rising channel. The recent fall from around 820 appears to be a correction, not a full breakdown. Price has again reacted near the 550–580 zone, which has acted as support in the past, so as long as this area holds, the structure remains fine.

On the upside, 700 –720 is the first level to watch. If price manages to move above this, it can slowly head back toward 775 and 820. But if there is a monthly close below 550, then the trend weakens and further downside is likely. So 550 is the key support, and 700+ is where strength comes back.

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