abhishek_sh4

Buying opportunity after retracement

NSE:CDSL   CENTRAL DEPOSITORY
Observations:

1.) "+" Shows strength candles.
2.) Higher High + Higher low = Accumulation
3.) CDSL has moved out of the channel & also it is on 61.8% Fibonacci Retracement . There I expect small correction before it continues its rally.
4.) Rs 368 can be tough resistance in the short term, where I again expect some consolation before moving towards are future targets.
5.) Significant increase in volume in the past few weeks.

Trading plan:

Probable entry at 320-322 can significantly Increase the Risk to Reward ratio.

T1:400
T2:430

SL below the recent low

Trade closed: target reached
Trade closed: target reached: All three targets achieved.