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.

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