CDSL trying for big breakout CDSL is at a critical resistance level and has been trying to breakout these 3-4 times in last few months. It's in ascending triangle pattern, which is considered bullish. If the daily candle is fully above the resistance level for 2 consecutive days, it will go big, else come back in triangle for further consolidation.
CDSL trade ideas
Stock Analysis - CDSL - Breakout formedStock Analysis - CDSL:
My Analysis - Daily Timeframe:
1. Increasing support found in the bottom of Ascending triangle - marked in pink color UP arrow
2. Flat Resistance level (Rs.1580) - marked in Orange color down arrow.
3. Rs.1666 - found to be breakout point as it is the 2nd green candle formed
4. Expecting 10% upside rally - Rs.1850
Note:
I'm not recommending buying this stock. This is for education purposes.
This is my view, based on my learning.
Please do not trade without your own conviction.
Please invest after careful research. I'm not responsible for your profits/losses.
- Gnanasekaran
CDSL (LONG)CDSL is a monopoly stock like IRCTC.
there is no competition in the market.
the stock has made three rounding bottoms.
it has taken clear cut support between 1250 -1300.
Breakout given above resistance level of 1443.
if it retest this level ...it will act as support .... its a buy for CDSL.
you can start accumulating CDSL at CMP.
BUY CDSL @ 1450 - 1400 - 1350 -1300.
SL 1250 (or just below support of 1250).
TGT 1550 (short term).
TGT 2500 - 3500 (Positional).
Dont miss this stock.
Must Correlate on charts before taking an entry. This Scanner is for Educational purposes only. Please consult your Financial advisor before investing.
CDSL broke out of consolidationNSE:CDSL has broken out of a long consolidation with a gap up last week. If this breakout sustains then it has the potential to take the price to 1950 levels based on the height of consolidation triangle. Volumes have increased but they're not too impressive. Chances are it might retest the upper line it just broke but it momentum continues then it might keep going up from here.