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Published on 14/08/2020 12:50:09 PM | Source: HDFC Securities Ltd

Momentum Pick - Buy Central Depository Services Ltd For Target Rs. 385 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Service Sector #HDFC Securities #Trading Report #Central Depository Services Ltd

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Momentum Pick - Buy Central Depository Services Ltd For Target Rs. 385 - HDFC Securities

Observation:

After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce today.

Currently, the price is making an attempt to show upside move above the key upper resistance.

The short-term trend has turned positive.

We observe a formation of positive candlestick pattern as per intraday/daily timeframe chart.

Volume has started to rise along with the up move in the stock price.

The daily/intraday RSI is showing positive indication.

The overall chart pattern of PEL July Future indicates a short trading opportunity.

One may look to create long trading position as per the levels mentioned above.

Buy Central Depository Services Ltd 2-7 DAYS 358, 363.85 TGT 385 SL 354.5

 

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