Short-term traders can look to buy the stock for a target of Rs 2,380 in the next 1-2 months, suggest experts. The price fluctuations seen in the CDSL stock price resulted in the formation of an Ascending Triangle on the daily charts. The resistance was seen around Rs 2,000-2,050 levels.
It was after a long debate and committees getting formed that it was decided that stock exchanges and other institutions which play a pivotal role in the development of the capital market should be allowed to list on exchange for trading, though with some caveats. The fact is that after listing these companies not only continue to play a pivotal role in the development of the stock market but also have created a good amount of wealth for investors who were able to realise the fact that the best way to take exposure to ever growing capital formation ecosystem is to own these stocks. Some of these stocks have gained a good amount in the last three years, But the fact is that even there is a much longer runway for them as more savings gets into financial assets like shares, mutual funds and bonds. So, not only trade and trade and transact with them but also owning them might be a good idea for long term investors.
CDSL added 85 lakh accounts in the December quarter, which was up 88 per cent growth YoY. CDSL maintained its leadership position with a 75.6 per cent market share and 90 per cent incremental share, a brokerage said.
CDSL shares ended at Rs 1,785 on NSE, down 0.13 per cent. The listed depository offers facilitates holding and transacting securities in the electronic form and settlement of trades on stock exchanges.