Falling Wedge Breakout:
CDSL has fallen almost 34% since December 2021. It has given breakout from a falling wedge pattern on monthly charts. Rising prices are supportive of breakout in momentum indicators and volume supported price action.
CMP: 1110
R1: 1241 +11.45%
R2: 1457 +31.4%
Stoploss: 986.35
Falling Wedge Breakout:
CDSL has fallen almost 34% since December 2021. It has given breakout from a falling wedge pattern on monthly charts. Rising prices are supportive of breakout in momentum indicators and volume supported price action.
CMP: 1110
R1: 1241 +11.45%
R2: 1457 +31.4%
Stoploss: 986.35
Nifty stands at 17,833 levels as of today. Nifty is breaking out of it's broadening wedge formation for the first time since october 2021. The index has rallied by 18.5% from it's June 2022 lows of 15179 to 178333 level till last week.
The crucial support on a weekly basis lies at 17,600 levels which acts as technically pivot levels beyond which stop loss levels...
