ETMarkets.com
ETMarkets.com
ETMarkets.com
Analyst: Harshita Darak, Technical Research Analyst at Bonanza
ETMarkets.com
The ADX indicator is flat, indicating a lack of trend strength. Given these factors, the technical setup suggests that upside potential is limited and there may be downside risk.
Therefore, based on the current technical indicators, it is advisable to avoid taking a position in CDSL at these levels.
ETMarkets.com
The stock closed near its session high, reflecting strong buying interest, and a significant rise in volume further confirms demand at current levels.
In terms of moving averages, Indian Hotels is trading above both the 50 and 200 EMA, reinforcing the ongoing uptrend. Directionally, DI+ is positioned above DI-, indicating bullish momentum.
ETMarkets.com
The price is currently trading above both the Fast (50) and Slow (100) EMAs, confirming the uptrend, and a crossover between the 50 and 100 EMAs further signals a bullish trend. The momentum indicator RSI is moving upward, supporting the price action.
The Directional Movement Indicator (DMI) also signals an uptrend, with DI+ trading above DI-, while the ADX, trading above DI-, indicates strength in the upward move. Given this technical setup, a long position can be considered, with a stop-loss at 44,750.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
ETMarkets.com
Read more on
This article was originally published by Indiatimes.com. Read the original article here.