CDSL
It is a provider of depository services.
Ascending Triangle breakout done.
Finally able to give best weekly closing ever.
Target : 1872,2332
SL : 1550 WCB
Only for educational purpose. Not a recommendation.
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CDSL was consolidating since sometime and now it seems that consolidation time is over.
With good volume, CDSL about to give a breakout.
Ascending triangle breakout can be very good for giving quick gain.
RSI is also at breakout level and is >60 showing good momentum.
Disclaimer: Pls invest at your own risk.
1. Symmetric triangle formed.
2. Breakout of Symm triangle.
3. Retested the breakout
4. Price broke previous All time high with support of great volumes
**Great opportunity for swing trade with support of technicals validating at every stage.
** CDSL is monopoly until NSDL comes for IPO.
** Provided with the present Bull Run & IPO season the revenue will be all...
CDSL Long (14 Dec)
Breakout stock
RSI-67
Buy at CMP- 1616 or at 1590
SL- 1500
Target- 1705, 1790, 1840
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Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
CDSL is forming VCP pattern ( Volume Contraction Pattern)
Breakout above 1620
Positive Relative Strength and Increase in volume near resistance shows a good move is coming
RSI is bullish and above 60 it will be highly bullish.
On the Weekly chart, the Share breaks the major resistant level near 1500. After more than 4 months of Staying between range and breaking it on a weekly level. If he holds it and momentum continues as per the chart then it going to test again at 190 levels in the near future on the basis of Fibo. level.
Short term target is 1640 from the current level
Long term...
No Buy / No sale
Its pure knowledge sharing Idea based on my study of Indicators which i follows...
CDSL :
Daily : Consolidated Near 50 DMA & shows strength
Weekly : 1300 support on weekly closing basis
Monthly : Good Strength
Stock is in Uptrend......Till It holds 1300 on weekly closing basis
CDSL is at its trend support which in my opinion is very strong and hence, it is good time to buy and hold with SL Rs. 1390 (move as per the trendline).
