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Price and trend forecast of CDSL for Tomorrow, Weekly, Monthly

Central Depository Services (India) Limited

Symbol: NSE:CDSL

ISIN: INE736A01011

2,446.80

As on 2024-07-26

1,107.35 (52W Low) 2,538.65 (52W High)

CDSL's Today's Performance

Central Depository Services (India) Limited started the day by opening at 2,430.00 today 2024-07-26. Its shares reached a high of 2,469.50 and dipped to a low of 2,417.10 in intraday. When the markets closed, CDSL’s stock price settled at ₹2,446.80 per share. Also check out its key support and resistance levels.

CDSL Buy/Sell Targets

Tomorrow, buy CDSL when its price reaches ₹ 2,446.80 with a stop-loss order at ₹ 2,407.41. You can set the target price as ₹ 2,486.19 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of CDSL for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for CDSL

Downside Targets Value in ₹
Tomorrow Down Target 1 2,472
Tomorrow Down Target 2 2,497
Tomorrow Down Target 3 2,524

Important Levels for CDSL

Holding Levels Value in ₹
Tomorrow Up Target 1 2,419
Tomorrow Up Target 2 2,392
Tomorrow Up Target 3 2,367
Based on where the stock opens tomorrow, if CDSL opens on a positive note, our first target will be ₹2,472. If Target 1 is achieved, we will aim for Target 2 which is ₹2,497.

But if CDSL falls below the average value of ₹2,444.47, you can enter a sell side position with target number 1 - ₹2,419 and second target - ₹2,392 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of CDSL

Looking at CDSL, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, CDSL has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for CDSL is moderate bullish.

Tomorrow's Volume based share price Forecast for CDSL

CDSL's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -31%.

Reversal detection for CDSL

Predicted trend chart of CDSL tomorrow for price forecast
CDSL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹2395 in morning tomorrow
Target 1 tomorrow2464
Target 2 tomorrow2477
Target 3 tomorrow2497
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with CDSL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if CDSL opens on a positive note, our first target will be ₹2,471.83. If Target 1 is achieved, we will aim for Target 2 which is ₹2,496.87.

But if CDSL falls below the average value of ₹2,444.47, you can enter a sell side position with target number 1 - ₹2,419.43 and second target - ₹2,392.07

CDSL's Weekly Targets
1st Up Target 2,553.87
2nd Up Target 2,660.93
1st Down Target 2,255.37
2nd Down Target 2,063.93

As the week for CDSL ended on bullish sentiments, we can expect further continuation of this sentiment. CDSL's initial target will be 2,553.87 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 2,255.37 in the upcoming week.

Weekly OHLC Values
Open 2,265.25
High 2,469.50
Low 2,171.00
Close 2,446.80

Week for CDSL started with an open price of 2,265.25, and the close was at 2,446.80. CDSL reached the highest of 2,469.50 and dipped lowest up to 2,171.00 last week. This indicates a bullish sentiment for the week.

CDSL full month swing targets
Monthly Up Target 1 2,852.37
Monthly Up Target 2 2,959.43
Monthly Down Target 1 1,956.87
Monthly Down Target 2 1,466.93

Targets of ₹2,852.37 can be expected to be reached in the coming month. Once CDSL achieved this target, we can aim for the next upside target of ₹2,959.43.

CDSL if fails to hold upside, down targets of ₹1,956.87 and ₹1,466.93 can be achieved by end of this month.

For complete three weeks if CDSL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as CDSL

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

CDSL is expected to reach the target of 2,471.83 in tomorrow's trading session.

After achieving the initial target in CDSL, we will aim for higher targets of 2,496.87 tomorrow.

However, if CDSL starts to trade below ₹2,444.47, then we will shift our focus to the sell side and aim for down targets of 2,419.43 and 2,392.07.