Central Depository Services Limited is India’s first listed central securities depository. The company was established in 1999. CDSL facilitates holding and transaction of securities in electronic form and facilitates settlement of trades in stock markets.
The company’s stock has recorded a strong price rally in a short span of time. And the stock has risen more than 10% above its 30-day and 50-day moving averages.
With vehicle sales figures released today, commercial vehicles are seeing strong growth across the board. And with the advent of festive seasons, the demand for vehicles increases. Due to this, investors are buying this stock in a competitive manner as this stock will rise a lot.
The volumes recorded in the last 2 trading sessions have been above the 10-day and 30-day average levels. This has created a lot of buying interest in these stocks among investors.
Its 14-day RSI is at (67.02) and above its previous swing high. MACD is showing a nice crossover and its OBV is also looking positive.
Apart from that it has outperformed its competitor companies in the stock market and earned more profit. The stock has delivered higher returns than its investors expected. Technically the stock is highly bullish and expected to trade heavily in the short term.
Today, the price per share of the company rose by 3.77% to Rs.159.80. And its price in the future will be Rs. 170 to Rs. It is predicted to rise up to 175.
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