COFORGE Long opportunity for 17th March - Wednesday
This stock have shown good strength and has closed high. It still has bullish Momentum and can go further up. You can trade this for intraday and also for few days in the coming week.
Look for Buying at the levels marked in green and whenever you see a Bullish candle pattern forming. The targets and stop loss are subsequent levels up and down.
Other important levels are as marked in the setup.
You can download the Indicator to get the accurate levels premarket itself and see how the stock trades respecting those levels.
Happy and safe Trading
COFORGE
COFORGENote:
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Coforge bullish move loadingCoforge after giving trendline breakout yesterday, today retraced to it and bounced and has formed cup and handle formation. Although it tried to give a breakout of it too, but didnt sustain. Volumes are good and also there is 9/21 ema and macd crossover confirming our entry in the stock. Now, we can enter in it above 2700, coz it being a psychological round number will act as a resistance.
Coforge Fibo Level Along With Parallel Channel in 45 mins Price is trading near 100 Ema in 2 hours Tf, Also in a parallel channel in 30 mins. 20 Daily Time Frame can also act as a support.
BUY NEAR 2560 Only on proper reversal;
The Indicator Used:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts.
2) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
COFORGE ON A VERY CRUCIAL SUPPORTCoforge is taking support on a trendline on 4 Hour timeframe.
And taking a horizontal support too at around 2420.
And according to the short term fibonacci it is exact at 0.236 and according to medium term like from 21 Dec it's at 0.786.
If it takes support at 2420 and Nifty is also bullish then wait for an 1 Hour candle to close above 2450.
Summary For Swing
Sell Below 2400 if nifty is bearish with a SL of 2451. With a target of around 2317.
Buy above 2450 if any 1 Hour candle closes above it with a SL of 2394. With a target of around 2547.
Can also do Intraday.
COFORGE: ZIGZAG CORRECTION , confirmation After giving a five waves down , the stock has made a 3 wave upmove in a parallel channel whose breakout was seen in the friday's session. One should make a short position keeping a stop loss a bit higher of just recent high that is 2500 level and wait for the target below the recent low which is 2077.
Breakdown of Parallel channel in COFORGECOFORGE shown breakout of the parallel channel in the last trading session. Also, its indicating breakdown of the lower band of Bollinger bands. Overall strong downside possible after this pattern.
Possible Trade:
Sell COFORGE Below 2399
Stop-loss 2445
Target 2334 2287 2210-
COFORGE buy between 2065-2085COFORGE buy between 2065-2085
SL 1980
TARGET 2100, 2125, 2148, 2164, 2182, 2193, 2204
During correction, It may bounce first in range 2150-2165
Else bounce possible in range 2065-2085
Posting for Educational purpose only
Closing Basis means stock need to trade in range 2065-2085 between 3:20 ~ 3.30 PM
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