STOCK OF THE DAY - CDSL

CDSL

Technical Analysis of CDSL

Stock name: CDSL – Central Depository Services (India) Limited

Time Frame: Daily

Analysis:

The chart has formed a multi month range with potential support zone around 1726 and potential resistance zone around 2000. The previous uptrend was very strong giving us a bias towards long side. The prices took support around 1726 level, gave a sharp reversal and also formed a double bottom pattern on lower time frame. The trigger to enter the trade was a breakout from the lower time frame range with good momentum.

CDSL CHART

Entry : Below 1840

STOP LOSS : Around 1700

Target 1 : Near 1975

Target 2 : Near 2150

Disclaimer: This analysis is presented for educational and entertainment purposes only and does not constitute any form of financial recommendation. Prior to making any financial decisions, it is crucial to seek advice from your financial advisor.