CDSL (Central Depository Services) — Weekly

Technical Analysis Trend: Medium-term correction within a long-term uptrend. Structure: Price is testing a strong demand zone (~₹1,400–1,420). Support: ₹1,400 → ₹1,350. Resistance: ₹1,660 → ₹1,830. Bias: Neutral to positive if it holds the demand zone. Fundamental Analysis Duopoly business (with NSDL) — very high entry barriers. Earnings linked to market activity and retail participation. Asset-light, high ROE, strong cash flows. Structural beneficiary of financialisation in India. Summary: High-quality business; technically in a healthy pullback.