📊 Coforge Ltd – Downtrend Showing Early Recovery Signs
The stock is currently in a broader downtrend but is attempting a short-term recovery from lower levels. Here’s a structured breakdown 👇
🔎 Technical Observations:
• Clear downtrend with lower highs & lower lows
• Sharp sell-off followed by base formation near support zone
• Recent bounce with improving price action
• Volume gradually increasing during recovery phase
• Momentum indicators turning slightly positive
🔑 Key Levels to Watch:
• Immediate Resistance: ₹1195 – ₹1245
• Major Resistance: ₹1290 – ₹1338
• Immediate Support: ₹1100 – ₹1055
🚀 Upside (Pullback) Targets:
• ₹1245
• ₹1290
📉 Downside Scenario:
If price fails to hold ₹1100, further downside may continue towards:
• ₹1055
• ₹1008
📈 Trading View:
This move looks like a pullback within a larger downtrend
👉 Wait for a strong breakout above resistance for trend reversal confirmation
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊