daerontrading

CDSL: The Bomb

Long
NSE:CDSL   CENTRAL DEPOSITORY
CDSL has been on a correction phase and is treating 1246 as a level of support. You can clearly see the ABC correction and the minimal volumes throughout that phase points towards strengthening around the 1200 price range. The formation is like a bull flag and these usually result in sudden bullish moves. Positional trades can be taken in parts starting the first part as CMP and slowly adding on dips for a target of 1500+. Time frame for the target may vary from 3-6 months. Stop loss should be around 1150 just below 50 ema . The best buy is just around 1000 levels. So remember to make entry in parts.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.