Swing Trade opportunity in COFORGE
Entry: CMP
Target: 3920
DISCLAIMER: The ideas shared are only for educational purpose. The markets are very volatile, so plan your trades accordingly. Please trade with stop loss. I am not SEBI registered.
A LH-LL structure , with downward trendline and a rising channel, all put together shows a negative PA. Breakdown of this channel could be a shorting opportunity.
The downtrend seems to be taking a halt but as a trader it better to have a continuation bias. I see a downward channel playing out resulting in a double bottom type range. This can become a double top continuation pattern and the price continue to go down further. Moving averages or Lower High-Lower Low structures on lower time frame would confirm the entry.
Just placed my idea in Position drawing.
Red Zone: Resistance or Breakout Zone
Grey Zone: Repeated Hurdles (Support/Resistance)
Green Zone: Support or Breakdown Zone
Note: BUY above Red Zone
BUY at Green Zone.
SELL at Red Zone or Trail at Grey Zone
there is a good breakout out of chanel and it will break double bottom also .4000 will be the first target stoploss should be according to risk reward ratio
Coforge has been consolidating in a range from 4800 to 5800 from sometime and it formed a symmetrical triangle.
1. Buy only above 5625
2. Stop loss - 4800
3. Target 1 - 6,400
4. Target 2 - 6,800
Disclaimer : I am not a SEBI registered and this is just my analysis and sharing for education only. Do trade or invest at your own risk. I am not responsible for any...
Swing trade, Breakout stock, Banknifty Intraday Outlook also posted here.
Disclaimer - Trades are only for Learning.
StopLoss is only in our hand. So, Always use it. StopLoss hit exit. Again you will got fresh trade.
