COFORGE FAULTY Setup- Coforge is currently looking bullish
- Coforge can soon retrace back and take out some Buy side Liquidity
- From a swing perspective try avoiding it and wait for a retracement
- Do not enter longs here
Coforgeshort
Coforge AnalysisI am expecting a small downfall in Coforge Ltd. There is a trend line break down in small time frame. Also there is a trend line below in bigger time frame. So I am expecting the market to fall till the big time frame trend line.
Coforge Coforge is making a variant of head and shoulder near previous resistance level.
If it crosses below 3685, any retracement can be a good opportunity for 3600 level followed by 3400
Only for educational purposes. Happy trading
COFORGE Rounding bottom, @ Resistance !!NSE:COFORGE
#NSE:COFORGE formed beautiful rounding bottom and trading @ key resistance zone, BO sustainability may show good momentum.
Levels marked on chart.
CoForge Chart Analysis !!📈 CoForge 📉
My Findings :-
1. Breakdown of UpTrending Trendline Zone. See Below Chart.
2. Lower High and Lower Low Formation.
3. But IT Index at Support. To get more confirmation can be waited till IT Index Breaks down. Check IT Index Chart below for reference.
Bias- Short
Target- 3439, 2751 and 2390
SL- 4565
RR- 1: 3
IT Index Chart :-
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:COFORGE trading @ Resistance NSE:COFORGE
#NSE:COFORGE trading bullish @ resistance.
Post sustainability confirmation, may see positive trend.
Simple Trade Setup | COFORGE | 09-12-2021 [ INTRADAY] 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 will work as immediate resistance.
Please refer below chart : 1 day Time Frame.
2) On 1 day time frame, we can see below levels as support and resistance.
Please refer below chart : 1 day Time Frame.
3) On 15min time frame, we can see that it has been trading in the resistance channel range now. If it gives sustainable breakout of this channel then it will be bullish.
Please refer below chart : 15min Time Frame.
4) Also on 15min time frame, we can see that it has formed the bullish flag and pole pattern since last 3 trading session.
If this pattern gets activated and gives flag breakout then we can see good bullish move.
Please refer below chart : 15min Time Frame.
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Trade Setup for Date: 09-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
SELL COFORGE @ 5692 | INTRADAY TRADESell @ CMP 5692
SL @ 5740
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Coforge Good short candidate..coforge is facing price rejection around this levels
new comers might consider this as fresh breakout
but probably looks like will be fake breakout and will reverse sharply
waiting for reversal confirmation
this can be probable short candidate....
#coforge #niftyit #nifty #bankniftyNSE: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. we are not SEBI registered.
