Technical Analysis of CDSL
Stock name: CDSL – Central Depository Services (India) Limited
Time Frame: Daily
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.
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.