Technical Analysis of CDSL

CDSL shares surpass their highest bullish target, indicating potential for another year of over 100% returns.

11-12-2024 / Wednesday

"On track for another year of returns exceeding 100%."

"CDSL shares recently went ex-bonus after the company issued one free share for each share held as of the record date"

CDSL shares have dropped just three times in the past three weeks. With Monday's gain, its market cap has surpassed ₹40,000 crore. Trading above ₹1,900 and approaching ₹2,000, CDSL shares are now above analysts' highest price target.

Share of CDSL year on year returns.

CDSL shares have risen every month since May, with an 18% gain in December. Year-to-date, they've surged 112%.
This marks the third time since CDSL's 2017 listing that the stock has delivered 100%+ returns in a calendar year.
Previously, CDSL saw 140% returns in 2020 and 181% in 2021, driven by the boom in demat accounts during the pandemic.
CDSL shares also gained 64% last year.
CDSL recently went ex-bonus after issuing one free share for each held as of the record date.
CDSL's RSI is at 80, indicating the stock is in "overbought" territory (RSI above 70).

Technical Analysis :

Growth of CDSL in 5 years...!

255% in 1 year...!Observation :

Since CDSL is at its best in fundamentals and technicals, we can expect further drastic growth in the upcoming years. We can expect some fall only when the 1400 level is removed. Until then, the bull rally is expected to continue based on the technicals.

Disclaimer :

The stock analysis and opinions provided are for informational and educational purposes only. They do not constitute financial advice or a recommendation to buy, sell, or hold any security. Investments in the stock market are subject to market risks, including the potential loss of principal. By accessing this information, you agree to use it at your own risk and assume full responsibility for your investment outcomes.

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Gajapriya Annadurai
Full Time Trader & Investor, Founder @Stark School of Finance.

Technical Analysis of CDSL

"On track for another year of returns exceeding 100%."

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