CDSL showing Trend line breakup in daily timeframe
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.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.