COFORGE - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.4

Here’s a detailed technical analysis of COFORGE

📊 Trend Overview

Current Trend: Trending upward

Price is above both 50 DMA (₹1,742) and 200 DMA (₹1,653), confirming a strong bullish structure.

RSI at 63.1 is in bullish territory, indicating sustained buying interest.

MACD at 16.5 shows a positive crossover, reinforcing upward momentum.

📈 Technical Indicators

Moving Averages

Price (₹1,826) > 50 DMA (₹1,742) > 200 DMA (₹1,653): Golden crossover confirmed

RSI (63.1)

Bullish zone. A move above 70 would signal overbought conditions.

MACD (16.5)

Strong positive crossover. Momentum is accelerating.

Bollinger Bands

Price near upper band, suggesting strength but also short-term resistance.

Volume Trends

Current volume (21.89L) > 1-week average (12.06L): Strong accumulation

Indicates institutional interest and breakout potential.

🔍 Short-Term Momentum Signals

Bullish Bias

MACD and RSI support continued upside.

Price action above key moving averages confirms trend strength.

DII inflows (+2.39%) add to positive sentiment despite FII outflows.

📌 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 1,742 50 DMA, short-term base

Support 2 1,653 200 DMA, medium-term support

Resistance 1 1,850 Minor psychological barrier

Resistance 2 1,920 Recent swing high

Resistance 3 2,005 52-week high

🎯 Entry & Exit Zones

Optimal Entry: ₹1,740–₹1,770 (on dips near 50 DMA)

Exit Zone: ₹1,920–₹2,005 (partial profit booking)

Aggressive Target: ₹2,100+ if breakout above 52-week high sustains

🧭 Summary

Trend: Bullish and trending upward

Momentum: Strong, supported by MACD, RSI, and volume

Outlook: Favorable for swing trades and medium-term positions

Valuation: Very high P/E (102) vs industry (30), but backed by strong quarterly profit growth (+85.6%) and improving technicals

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