Can CDSL catch BSE?
Normally the exchange related stock are positive correlated. BSE already at roof. So, the question is can CDSL do the same?
Technically
1. CDSL has given a flag & pole breakout on 8th Sep' 2023 after nearly a retracement of Fibo 0.68
2. RSI creeping back to 70 on weekly charts. Thus, showing a very high strength by the bulls
3. Positive MACD with gaining Histogram suggest upside move likely
4. 20EMA cross 50EMA. Thus, confirming the above view.
In short term CDSL may face some resistance near 1410, breaking and sustaining above will likely to extend the rally like BSE that will take the stock to 1694 as T1 and long run we might see it moving towards 2600
Technically
1. CDSL has given a flag & pole breakout on 8th Sep' 2023 after nearly a retracement of Fibo 0.68
2. RSI creeping back to 70 on weekly charts. Thus, showing a very high strength by the bulls
3. Positive MACD with gaining Histogram suggest upside move likely
4. 20EMA cross 50EMA. Thus, confirming the above view.
In short term CDSL may face some resistance near 1410, breaking and sustaining above will likely to extend the rally like BSE that will take the stock to 1694 as T1 and long run we might see it moving towards 2600
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