Technical Analysis Central Depository Services (India) Ltd.
The stock
CDSL
is trading around ₹1418 after a strong rally from the April lows. The stock has reversed its earlier downtrend and is now forming a pattern of higher highs and higher lows indicating that buyers have regained control. The recent breakout above the ₹1350 zone was supported by strong momentum although the stock is currently witnessing mild profit booking near recent highs. The overall technical structure remains positive, with the price holding above previous breakout levels. As long as the stock stays above key support zones.
Immediate support is placed around ₹1380-1400, followed by a stronger support zone near ₹1320-1340 where buyers have previously shown strong interest. On the upside immediate resistance is seen at ₹1440-1460. A decisive breakout above this zone with strong volume could trigger the next rally towards ₹1500 and ₹1560.
The technical trend remains bullish despite the recent pullback. Short-term traders can watch for a breakout above ₹1460 for fresh buying opportunities, while existing investors may continue to hold with a stop-loss below ₹1380. As long as the stock remains above its key support levels, the probability favors continuation of the uptrend, with short-term volatility expected near resistance.