Central Depository Services (India) Limited (CDSL) Stock - Complete Technical Analysis - Sep 19, 2024

CDSL Stock Analysis: Key Support & Resistance Levels September 2024 Update

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Central Depository Services (India) Limited, or CDSL, is currently trading at 1,511. This price is approximately 9.21% below its 52-week high of 1,664 and 139.48% above its 52-week low of 631. The stock's technical indicators present a bullish outlook. The RSI is showing a strong bullish trend, suggesting the stock is in an uptrend, while the MACD also supports this positive momentum. The Awesome Oscillator and Bull Bear Power confirm strong bullish conditions.

Resistance for CDSL is likely near the 1,550 to 1,600 range, where the stock has faced challenges recently. Support is anticipated around the 1,450 level, with additional support at 1,400 if the price continues to decline. The ADX is moderately high, indicating a robust trend, but be cautious of potential volatility.

The Doji and Spinning Top patterns observed suggest market indecision, which could lead to price fluctuations. Moving averages reveal that the stock is currently above its short-term averages but slightly below its longer-term averages, pointing to a mixed trend. Traders should monitor these levels and patterns closely to gauge future price movements.