STAROFMARKET ADVICE with MAYANK (SEBI RA) · 7th Jun 2025
CDSL
CDSL
1. Breakout Above Resistance
Previous resistance zone around ₹1,400 (marked with red line) has been decisively broken.
This breakout has been followed by strong bullish candles with volume (not visible here but assumed due to price action strength).
📈 2. Strong Uptrend
From early May onwards, stock has been forming higher highs and higher lows, classic sign of a strong uptrend.
Sharp rally from approx ₹1,200 to ₹1,776 – over 45% gain in just over a month.
🧱 3. Next Major Resistance
Around ₹2,020 (green line) — a previous all-time high zone.
This can act as a potential profit-booking area or psychological resistance.
📉 4. Risk of Short-Term Pullback
After such a steep run, RSI might be in overbought zone (though not shown here).
₹1,700–₹1,720 could act as minor support if there’s a dip.