Central Depository Services (India) Ltd’s (CDSL) recent correction from ₹1,800 to ₹1,663 marks a potential shift in market sentiment, according to SEBI-registered analyst Palak Jain.
At the time of writing, CDSL shares were trading at ₹1,657, down 4.7% on the day.
She noted that the stock’s strong uptrend from late March to early June has reversed sharply.
Jain said the price action now shows signs of consolidation following the decline, with volume dropping by 23.9%.
She highlighted technical indicators, including moving averages, that point to a potential rebound.
The analyst identified ₹1,644 as the essential support level and ₹1,715 as the resistance point.
Jain said investors might find a “buy on dip” opportunity during a fundamentally sound stock's correction. She advised thoroughly evaluating valuation, industry trends, and financial risks before investing.
On Stocktwits, retail sentiment was ‘bearish’ amid ‘high’ message volume.
The stock has declined 8.2% so far in 2025.
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