CDSL – Rounding Bottom Breakout After Downtrend

5月18日

Summary

CDSL has broken out of a multi-month rounding bottom formation, reclaiming the key resistance level near ₹1396 with a wide-range candle and strong volume.

This move may signal the start of a trend reversal after a prolonged downtrend. If the breakout sustains, the projected target based on the depth of the base is around ₹1609 — approximately 24.5% upside from current levels.

Technical Highlights

• Pattern: Rounding bottom (not a classic cup since no prior uptrend)
  
• Breakout Level: ₹1396
  
• Target: ₹1609 (based on breakout projection)
  
• RSI: Rising to 66+, showing strengthening momentum
  
• Volume: Highest in weeks, suggesting accumulation
  

Strategy

• Entry: On breakout or retest of ₹1396
  
• Target: ₹1600–1610
  
• Stop: Below ₹1385
  

Disclaimer

This analysis is for informational and educational purposes only and should not be considered financial advice. Please conduct your own research and consult a qualified financial advisor before making any investment decisions.

6月3日

交易結束：目標達成

Reached target of ₹1610 yesterday, up 15% in 2 weeks. If positioned, you can continue riding the momentum toward ₹1735, and potentially ₹1970 if strength persists.

6月3日

註釋

Price hit our projected target of ₹1735 intraday — move delivered ~22% in 18 sessions since breakout. Current session shows supply reaction near target with high volume and upper wick. Those trailing may consider booking; fresh entries not ideal at this slope. Momentum traders can watch for consolidation above ₹1609.