CDSL stock eyes 'cup and handle' pattern breakout; can it hit ₹3,000-mark?

CDSL stock is seen trading near the 'cup and handle' pattern resistance level; a breakout above ₹1,828 levels shall open the doors for a further rally at the counter.

The share price of CDSL has appreciated by nearly 73 per cent in the last three months, from a low of ₹1,047 in March to the present ₹1,805 levels. Further, in late May, the stock had given a fresh breakout on the daily scale.  More importantly, the last six months chart shows the formation of a 'Cup and Handle' pattern on the daily scale. In general, the 'Cup and Handle' pattern is considered as a bullish chart pattern, with a likely upside breakout which also signals the start of a fresh bull run at the particular counter.