CDSL Share Price Target: Central Depository Services Limited ( CDSL Share Price) is one of the top return-giving stocks in the stock market. The financial performance of the company has been improving in the last few years, the effect of which is also seen in the share price. In such a situation, while talking to ET Now, Kushal Gandhi, Technical Analyst of Stocksbox, said that now is a good opportunity to buy CDSL .

He said that the price action analysis of CDSL indicates a strong bullish trade. It looks positive with the support of the short-term weekly moving average. Further, he said that the stock is at 50 DMA, which is a support for its price action, it can accelerate. Despite a massive 267% rally from the March 2023 lows in the last 82 weeks, a support pattern is forming which is indicating an uptrend in the stock in the short term.

What is the target given by the expert on CDSL share

He said that the stock is showing signs of strong performance considering the strength of EPS, the price at which the stock is being held, and the demand from investors. He has advised to buy CDSL in the range of Rs 1620-1600 and keep a target of Rs 1790 and alsoadvisede to maintain a stop loss at Rs 1504.

On Thursday (28 November), CDSL shares closed with a slight decline at Rs 1,602. It has given a return of 8 percent in 1 month. In 6 months, CDSL shares have gained 53.52 percent. In 1 year, this stock has given a return of 76.93 percent to investors. In August this year, the company had issued bonus shares in the ratio of 1:1.

About CDSL

CDSL is a central securities depository located in Mumbai. It is the only listed depository in the country and hence has a monopoly on the exchange. National Securities Depository Limited (NSDL) is another depository. NSDL was incorporated in 1996 while CDSL was incorporated in 1999. Both NDSL and CDSL operate under the supervision of SEBI.