CDSL trade ideas
CENTRAL DEPOSITORY HEAD AND SHOULDERS LONG OPPORTUNITYCDSL CHART HAS FORMED HEAD AND SHOULDERS FORMATION ON HOURLY CHART. CHART HAS BROKE AND CLOSED ABOVE NECK LINE. CURRENTLY CHART IS TAKING SUPPORT AT NECKLINE WHICH WAS RESISTING BEFORE BREAK.
SO, THERE IS MORE CHANCE THAT WE MAY ACHIEVE TARGET AS PER HEAD AND SHOULDERS FORMATION OF INR 566 TO COMPLETE HEAD AND SHOULDERS FORMATION. SINCE THIS IS BULLISH FORMATION LONG TERM TRADERS CAN REDUCE THEIR STOPS AND LOOK FOR HIGHER TARGETS ONCE THE INR 566 MARK IS REACHED.
CDSL - Bullish CDSL CMP - 498.70
Looking bullish in higher time frame. One can go for Swing / Short Term Trade setup with the following entry, exit & targets
Buy at or above 501 / Stop Loss 494
Target1 - 506
Target2 - 511
Target3 - 516 / 520
Short Term Target - 550 / Stop Loss 470
Disclaimer: This is my view and for educational purpose only.