CDSL remains under moving-average pressure at ₹1,266

Central Depository Services (India) Ltd. closed at ₹1,266 after a small positive session, but the candle did little to change the broader weak structure. The stock has dropped from the September recovery zone near ₹1,420 and is again trading near the lower end of its recent band. The key issue is that each bounce has been short-lived, with sellers returning before the stock can establish a higher high.

Price is below the 20-day average near ₹1,308 and the 55-day average around ₹1,341. Both averages are declining, which turns the ₹1,308–₹1,341 range into a supply zone rather than immediate upside support. MACD is below the zero line and below its signal line, while the negative histogram confirms that momentum remains soft. The latest green candle should therefore be treated as a pause, not a technical turnaround. ₹1,250 is the immediate level to watch. A decisive break can expose ₹1,200. On the upside, ₹1,308 is the first recovery hurdle, followed by ₹1,341. Market participation, demat-account activity and transaction volumes remain central drivers for the depository business.