CDSL trade ideas
High Tension Lines In 1 WTF//CDSL*Let it cross the 50 EMA with confident volumes in 1 DTF!
*The trend may go Up-Wards or Down-Wards, because of that we are supposed to follow strict SL.
*There is lot of bearish candles before in the trend, but I see something is changing in the trend!
LET'S WATCH!!!
CDSL Trend AnalysisPrice has formed a Head & Shoulder Pattern with declining volume suggesting price is heading towards the technical target of H & S pattern which is around 650 level.
Fundamentally sound but CMP is more than 10 times its book value, better to buy when PE will be around 20-25 levels
Key support level and golden FIB zone will add more confluence to 650 odd levels.
Better to accumulate around 600-650 levels for the following targets:
Short term swing target @ 970 (51.5% ROI with 3.67 R:R)
Medium term swing target @ 1240 (93.75 ROI with 6.75 R:R)
Long term positional target @ 1555 (143% ROI with 10.17 R:R)
Stop loss around 550.
Do your own due diligence before taking any action.
Peace!!
CDSL - Important
Any breach of this parallel channel will lead to fall up till 1140 - 1200 levels.
The green zone drawn below (1140 - 1200), is an addition zone for the stock.
Totally unexpected!
The results were very good and with the coming up of LIC IPO, CDSL should out perform, but inverse is happening.
LESSON LEARNED - What seems obvious, is clearly not going to happen!!