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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.
The nifty has a crucial support of the 50 DMA level of 22,300 and a decisive close below the 22,300 level the nifty can slide further to the 22,000 and 21,800 levels.
On the lower side, 22,350-22,300 is the immediate key support for Nifty and as long as this holds, the chances of consolidation with positive is seen.
Multibagger stock: South Indian Bank shares closed at Rs 28.08 in the current trading session, quadrupling investor wealth in two years. The banking stock hit a record high of Rs 36.91 on February 2, 2024 and fell to a 52 week low of Rs 14.64 on May 10, 2023.
Nifty on Monday ended 33 points lower to form an Inside Bar pattern on the daily chart with the India VIX recording a surge of over 13%.