HDFC Life Insurance Company Ltd. (CMP: ₹782, Stop Loss: ₹725) is showing strong bullish undertones on the charts, with a Double Bottom pattern emerging on the hourly timeframe. This formation, often seen as a bullish reversal, occurs when a stock tests a support level twice without breaking lower, forming two rounded troughs and signaling potential upward momentum upon breakout.

The technical strength is reinforced by a rising MACD line, confirming positive momentum, and the stock trading above its 10-day and 21-day exponential moving averages, highlighting short-term trend alignment. Volume activity is picking up, indicating growing market participation in the move.

Immediate resistance is pegged at ₹815, while ₹733 remains key near-term support. Traders could consider setting a stop loss at ₹738 to manage downside risk. Sustained trade above ₹800, backed by strong volumes, could pave the way for a decisive breakout toward the ₹815–₹825 zone.

Note: Charts and prices are as of 1 PM.

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