COFORGE trade ideas
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!!!
COFORGENote: This is for educational purpose only.
COFORGE is trading in an UPWARD RISING CHANNEL PATTERN on the 1-hour chart. BUY if it sustains above 2643 levels.
BUY ABOVE 2643
STOPLOSS - 2618
TARGET 1 - 2663
TARGET 2 - 2695
Inverted HnS pattern on COFORGE.The stock has formed an inverted head & shoulders pattern and has also broken a resistance trendline. More upside expected in the coming days.
All levels mentioned in the chart.
Watchout for Resistance breakoutThe stock gave trendline breakout today and looks good above 2661 level
Long opportunity in CoforgeCoforge is making a good pattern on 2 hourly TF. Closing just at TL and made a rounding bottom pattern also
Above 2650 this can move till next three targets. Stop loss as per your risk. Can be intraday and swing opportunities. Levels mentioned in chart.
COFORGE LOOKING GOOD AS BUYING CANDIDATECOFORGE AT IMPORTANT SUPPORT, CMP 2450.
NEXT TARGET 2485, IF BREAKS WITH VOLUME THEN 2540 SURELY WILL TOUCH IN INTRADAY
Tradind idea for Coforge -at support levelsell below 2493 for target 2400
else buy for bounce back from support
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 - BUY IDEAA midcap IT company with decent valuations have given the breakout. Remember we are already holding from 2570 which was our first buy given in our stockarrows group. Now is the second buy.
Breakout Expectation, Swing Trade, COFORGEGood consolidation near resistance , showing strength of buyers and also 20 DMA aligning with Trend line. Strict SL can be followed and later it can be trailed.
