Coforge Ltd.
The daily chart of Coforge Ltd. (NSE) shows a rising wedge pattern, typically a bearish formation, with the price nearing the resistance zone around ₹8300-8350. Key support levels lie at ₹8000 (wedge support and 50-day MA), ₹7400 (100-day MA), and ₹7000-7100 (long-term support). While the stock remains in an uptrend, weakening momentum is suggested by bearish divergences in the RSI and a bearish MACD crossover. A breakout above ₹8350 with strong volume could signal further bullishness toward ₹8500-8600, while a breakdown below ₹8000 could target ₹7400 and lower. Traders should watch for a decisive move outside the wedge and use tight stop-loss levels to manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.