HDFC Life Makes New 52-Week High: 50.88% Gain in 8+ Months!

01 Dec, 2023

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It moved from its 52 week low of ₹457.8 to ₹690.75 which is just ₹2.25 less than it 52 Week High of ₹693, giving a whopping 50.88% return in just 8 months and 11 days.

As of Fri, 01 Dov 2023, HDFCLIFE is just ₹2.25 less than the 52-Week High of ₹693. Lets find out what opportunities lies ahead for HDFCLIFE

The Golden Extension (161.8%) level of ₹838 offers a promising Exit Point, given the likelihood of a downward momentum from these levels as investors might start booking their profits at these levels.

The Golden Ratio (61.8%) retracement level of ₹547 offers a promising Entry Point, given the likelihood of a pullback from these levels as new investors might come in at these levels.

In June 2023, HDFC Life became a subsidiary of HDFC. HDFC holds a 50.33% stake in HDFC Life.

On 1 July 2023, HDFC Bank and Housing Development Finance Corporation (HDFC Ltd.) merged, and the new entity formed was HDFC Bank.

Due to the merger, HDFC Life Insurance Company Limited has become a subsidiary of HDFC Bank.

HDFC Life is India's biggest private life insurer with a market capitalisation of ₹ 1,45,000+ crores.