CDSL
CMP -1021
As of now, we can’t say that it has completed its correction. It is still falling.
It is in sell zone on daily/weekly/monthly time-frames.Weekly/daily RSI is below 30 that means it is not showing any strength.
Also we don’t see any significant buying volumes of up-days ( for any stock to move up, we need big hands to enter that counter) .
To move upwards, it should stop making lower-lows, should form a base for few weeks, let the volumes come in. For better undertanding, read about stage analysis . Have shared the write-ups several times in previous posts.
CAMS
CMP -2260
Although its chart is better than CDSL but we are doubtful about whether it would start its long term upward journey in coming monts…
It is better beacuse unlike CDSL, it is forming a Stage -1 base in a range for last 9-10 months.
But it can remain in this range for many more months.
First sign of any long term real upward moentum would be it convicing crosses and close above 2700 for few weeks – above the current trading range as shown by blue line.
Before that one should see it closing above the 40 WEMA for few weeks.That would intial sign.
Would request again to learn stage-investing. It is very simple and easy to master.
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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