It has formed a strong base and ii now trading above 0.236 fib retracement. Good to add in between 4100-4150, but will be weak below 3940 daily closing basis
NSE:COFORGE
#NSE:COFORGE formed beautiful rounding bottom and trading @ key resistance zone, BO sustainability may show good momentum.
Levels marked on chart.
Coforge Ltd - 27.05.2022
The stock is trading @ 3671 levels
There is a MACD Bullish Divergence in Weekly Chart
There is a Stochastic Bullish Divergence in Weekly Chart
Let the prices go above 3838 to initiate a buy position
Watch out for the price action.
The Coforge is the Mid it share, the share in the correction, after the 38% Correction the share is the good level to buy 4080 is the Stop Loss and Target is Blue Sky.
#investingclubs
Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above...
COFORGE shown Inverse Head and shoulder pattern on Daily charts, might be a good buy for positional trade, with a stoploss of 5629 for big targets of 6494, 6715 and 6990, AND don't forget to trail stoploss to upper levels..
1. Trend Line Break Out with decent Volume
2. Volatility Contracting
3. RSI Break Out
4. Nearing ATH.
5. 5900-6000 Resistance zone.
6. Major movement above ATH of 6013.30
NSE:COFORGE
I am posting this as one of the follower on Twitter requested for it.
Observations:
1) On 1day time frame,Today, Today it traded between 100DMA and 50DMA.
Breakout on either side will give a good move on that side.
100DMA is placed at 5180.30 level. So level range of 5180-5200 will work as support.
50DMA is placed at 5350.25 level. Which...
A Symmetrical triangle is a clear cut indication of consolidation followed by a breakout.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for...
NSE:COFORGE
if you know reversal trading then only trade on this chart , as one can see there is mentioned reversal zone and stop loss.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them....
![COFORGE: Simple Trade Setup | COFORGE | 09-12-2021 [ INTRADAY]](https://s3.tradingview.com/a/aTMSrM3W_mid.png "Simple Trade Setup | COFORGE | 09-12-2021 [ INTRADAY]")
