Symmetrical Triangle about to break.
CDSL has shown some good uptrend in the past six months, now it is in a consolidation phase after a good price correction. We can see while correcting the volume is very low which is a good sign and shows that sellers are weak. Latest candle formed is a strong bullish candle with an above average volume gives a hint of buying interest. A unique thing is that for the past half a month the deliveries are 100%.
Other indicator's signals:-
Momentum = RSI above 60 on all time frames (monthly,weekly,daily).
Trend = Price is respecting the trend line since retest.
Relative Strength Comparison = Outperforming nifty50 as well as midcap index.
ENTRY= above 1380
SL= below 1290
Target= 1580
Other indicator's signals:-
Momentum = RSI above 60 on all time frames (monthly,weekly,daily).
Trend = Price is respecting the trend line since retest.
Relative Strength Comparison = Outperforming nifty50 as well as midcap index.
ENTRY= above 1380
SL= below 1290
Target= 1580
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