Symmetrical Triangle about to break.

10 thg 10, 2021

CDSL has shown some good uptrend in the past six months, now it is in a consolidation phase after a good price correction. We can see while correcting the volume is very low which is a good sign and shows that sellers are weak. Latest candle formed is a strong bullish candle with an above average volume gives a hint of buying interest. A unique thing is that for the past half a month the deliveries are 100%.

Other indicator's signals:-
Momentum = RSI above 60 on all time frames (monthly,weekly,daily).
Trend = Price is respecting the trend line since retest.
Relative Strength Comparison = Outperforming nifty50 as well as midcap index.

ENTRY= above 1380
SL= below 1290
Target= 1580