CDSL hits record high; rises 16% in five days

Central Depository Services (CDSL) jumped 3.9% to Rs 546.55, rising for fifth consecutive trading session.

The stock has gained nearly 16% in five trading days from its previous closing low of Rs 471.40 on 26 November 2020. The stock hit a record high of Rs 566.40 in intraday today. It has jumped 203% from its 52-week low of Rs 179.8 hit on 23 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 72.195. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 477.30 and 432.72 respectively. These levels will act as crucial support zones in near term.

CDSL is India's leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.

On a consolidated basis, CDSL's net profit rose 68.17% to Rs 48.87 crore on 69.39% increase in net sales to Rs 89.20 crore in Q2 September 2020 over Q2 September 2019.

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