Another Bull Trap in Coforge?Trade Idea – Coforge Limited (30-Minute Chart)
The structure suggests an ongoing impulsive decline where Waves i, ii, and iii appear to be in place. The recent bounce looks corrective and is being interpreted as a potential Wave iv retracement within the broader downward sequence. Price has started to stall near the previous consolidation area, which is consistent with the behaviour of a fourth-wave correction.
If this count remains valid, the next move could be the unfolding of Wave v in the direction of the prevailing trend. The focus is on whether the corrective bounce completes and price resumes downside momentum.
This is a technical chart study shared for discussion and learning purposes only. Not investment advice.
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