CDSL Share Price Target: Central Depository Services (India) Ltd (CDSL) shares are in a downtrend for the last one year, having lost 12 per cent.CDSL, which competes with National Securities Depository Limited (NSDL), closed in the red on Tuesday (August 5) at Rs 1568. At current price, CDSL shares are down 21 per cent from 52-week high of Rs 1,989.80. So what should be the strategy for investing in CDSL and can CDSL shares cross Rs 2000-mark this year? Let's understand here:Akshay Bhagwat of JM Financial Services told ET NOW Swadesh that if the view is long-term then my recommendation on CDSL is HOLD. "The long-term chart of CDSL is very bullish. But in the short to medium-term, we may not see big moves. CDSL shares have a strong resistance at Rs 1800.""CDSL shares faced resistance at Rs 1800 last month and saw a strong selling. In the current selling, CDSL share may fall up to Rs 1400. My suggestion is to add more at Rs 1400. The long-term view is positive. If you are buying CDSL shares, then buy with a view of at least 1 year. CDSL shares have a strong support at Rs 1400 while Rs 2000 will be the target," the market expert said.While NSDL (now listed) is the older and larger depository in India, CDSL went public in 2017. CDSL shares have produced bumper returns since listing, making investors wealthier by 1100 per cent.CDSL shares have declined 15 per cent in 2024 so far while yielded a positive return of 3 per cent in one year. In two years, CDSL shares have delivered a multibagger return of 152 per cent. In 5 years, the counter has skyrocketed more than 750 per cent. In August 2024, CDSL had issued first-ever bonus shares to its investors in the ratio of 1:1.VIDEO https://www.youtube.com/watch?v=TeyG4wLVJHc(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
CDSL share price down 21% from 52-week high; should you buy for Rs 2000 target?
