📈 CDSL Weekly Technical Analysis: Upside Continuation with Repeating Baseline Support

🔄 Key Observations: ✅ 1. Repeating Baseline Pattern Price has formed a clear baseline support structure at approx ₹1,095, tested multiple times (green dots). After each visit to this support, the stock has staged sharp upside recoveries, suggesting this is a strong demand zone. The pattern mimics a cup-and-handle or double-bottom style continuation, typical of strong mid-term rallies. ✅ 2. Rising Channel Break → Reclaim The stock initially broke down from its steep rising channel (black lines). However, after forming a bottom around ₹1,095, price has now reclaimed the lower half of that channel, climbing steadily since March 2025. This re-entry into the channel is often a bullish continuation signal. ✅ 3. Key Supply Zone Tested Price just faced resistance at ₹1,800–₹1,830, a prior supply zone from 2024. A clear rejection candle (-6.55%) has formed, showing profit booking at the zone. However, if ₹1,616–₹1,650 holds (marked by red rectangle), it could serve as the new higher base for next leg. 📊 Volume and Sentiment: Volume increased meaningfully on recent green candles — suggesting fresh buying interest. Red volume spike now hints at short-term correction, but as long as it doesn’t break below ₹1,616–₹1,580, bullish structure holds. 📢 Disclaimer: This is for educational purposes only. Not a buy/sell recommendation. I may or may not hold a position. Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). Investments are subject to market risks.