CDSL Daily Chart Review
Central Depository Services (India) Limited is showing an early bullish reversal attempt after a prolonged downtrend.
Technical Observations
* Price has given a trendline breakout attempt from the falling resistance line.
* A strong green candle near support indicates buyers are defending lower zones.
* RSI is recovering from weak levels and moving above its signal line, which supports short-term momentum improvement.
* Volume is moderate; a stronger breakout volume would add confirmation.
Important Levels
Immediate Support
* ₹1225 – ₹1205 zone
* Strong demand area.
* Breakdown below this can weaken the setup again.
Immediate Resistance
* ₹1291
* Major hurdle visible on chart.
* Sustained closing above this level can trigger fresh momentum.
Higher Resistance Targets
* ₹1350
* ₹1400
* Positional target if momentum sustains: ₹1500+
Trading View
* As long as price holds above ₹1225, bullish recovery chances remain active.
* A daily close above ₹1291 with good volume may confirm a short-term trend reversal.
* Conservative traders may wait for breakout confirmation above resistance.
Pattern Perspective
The chart currently reflects:
* Descending trendline breakout attempt
* Possible base formation near support
* Early signs of reversal from oversold region
Risk Factor
* Failure to sustain above breakout line may lead to another retest of ₹1200 zone.
* Market-wide weakness can delay breakout follow-through.
Disclaimer
This analysis is only for educational purposes and not investment advice. Please consult your financial advisor before taking any trade. I am not SEBI registered.
Central Depository Services (India) Limited is showing an early bullish reversal attempt after a prolonged downtrend.
Technical Observations
* Price has given a trendline breakout attempt from the falling resistance line.
* A strong green candle near support indicates buyers are defending lower zones.
* RSI is recovering from weak levels and moving above its signal line, which supports short-term momentum improvement.
* Volume is moderate; a stronger breakout volume would add confirmation.
Important Levels
Immediate Support
* ₹1225 – ₹1205 zone
* Strong demand area.
* Breakdown below this can weaken the setup again.
Immediate Resistance
* ₹1291
* Major hurdle visible on chart.
* Sustained closing above this level can trigger fresh momentum.
Higher Resistance Targets
* ₹1350
* ₹1400
* Positional target if momentum sustains: ₹1500+
Trading View
* As long as price holds above ₹1225, bullish recovery chances remain active.
* A daily close above ₹1291 with good volume may confirm a short-term trend reversal.
* Conservative traders may wait for breakout confirmation above resistance.
Pattern Perspective
The chart currently reflects:
* Descending trendline breakout attempt
* Possible base formation near support
* Early signs of reversal from oversold region
Risk Factor
* Failure to sustain above breakout line may lead to another retest of ₹1200 zone.
* Market-wide weakness can delay breakout follow-through.
Disclaimer
This analysis is only for educational purposes and not investment advice. Please consult your financial advisor before taking any trade. I am not SEBI registered.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.