COFORGE - Technical Analysis
Last Updated Time : 02 Aug 25, 12:58 am
Back to Technical List📊 Technical Analysis Summary for COFORGE
Technical Rating: 3.3
📉 Trend Status & Chart Patterns
Trend Status: The stock is currently in a reversal phase, pulling back from its 52-week high of ₹2,005.
Pattern Observed: A descending channel is forming, with lower highs and lower lows, indicating short-term bearishness.
Price Action: Trading below both 50 DMA and 200 DMA, confirming weakness in momentum.
📈 Moving Averages
50 DMA: ₹1,790 — Current price is below, signaling short-term bearishness.
200 DMA: ₹1,626 — Current price is slightly above, suggesting long-term trend is still intact.
Signal: Bearish crossover confirmed; watch for support near 200 DMA.
📊 RSI & MACD
RSI: 34.7 — Near oversold territory, but not yet a reversal signal.
MACD: -27.5 — Deeply negative, confirming strong bearish momentum.
Signal: Momentum is weak; wait for bullish divergence or RSI recovery above 40.
📉 Bollinger Bands
Price is near the lower band, indicating oversold conditions.
Signal: Potential for a short-term bounce, but trend remains negative.
🔊 Volume Trends
Current Volume: 36.08 lakh vs 1-week Avg: 49.10 lakh — Below average, suggesting lack of conviction.
Signal: Weak volume on down days implies passive selling, not panic.
📌 Support & Resistance Zones
Level Price (₹) Commentary
Support 1 1,650 Near recent swing low
Support 2 1,620 Strong base near 200 DMA
Resistance 1 1,790 50 DMA, short-term resistance
Resistance 2 1,850 Prior bounce zone
🎯 Entry & Exit Zones
Optimal Entry: ₹1,620–₹1,650 (near 200 DMA with tight stop-loss)
Exit Target: ₹1,780–₹1,850 (if bounce confirmed)
Stop-Loss: ₹1,600 (below recent swing low)
🧭 Final Take
COFORGE is showing signs of short-term reversal with bearish momentum indicators and a breakdown below the 50 DMA. However, the 200 DMA is holding as a key support. Traders should wait for confirmation of a bounce before entering. Long-term investors may consider accumulating near ₹1,620 with disciplined risk management.
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