COHANCE - Technical Analysis with Chart Patterns & Indicators

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

Technical Rating: 3.5

Here’s a detailed technical analysis of COHANCE

📊 Trend Overview

Current Trend: Reversing with bearish undertone

Price is below both 50 DMA (₹966) and 200 DMA (₹1,024), indicating a short-term and medium-term downtrend.

RSI at 42.3 is weak, suggesting lack of buying strength.

MACD at 5.03 is positive but flattening, hinting at fading momentum.

📈 Technical Indicators

Moving Averages

Price (₹914) < 50 DMA (₹966) < 200 DMA (₹1,024): Bearish crossover confirmed

RSI (42.3)

Bearish zone. Below 50 indicates selling pressure.

MACD (5.03)

Slightly positive, but momentum is weakening.

Bollinger Bands

Price near lower band, suggesting oversold conditions but no reversal confirmation yet.

Volume Trends

Current volume (4.45 Cr) >> 1-week average (90.1L): Heavy distribution

Indicates strong selling pressure, possibly institutional exit.

🔍 Short-Term Momentum Signals

Bearish Bias

RSI and price below key moving averages confirm weakness.

MACD flattening suggests momentum loss.

FII and DII outflows reinforce negative sentiment.

📌 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 880 Recent swing low

Support 2 856 52-week low

Resistance 1 966 50 DMA, short-term ceiling

Resistance 2 1,024 200 DMA, medium-term barrier

Resistance 3 1,150 Pre-breakdown zone

🎯 Entry & Exit Zones

Optimal Entry: ₹880–₹900 (on dips near support)

Exit Zone: ₹1,000–₹1,150 (partial profit booking)

Aggressive Target: ₹1,250+ if breakout above 200 DMA sustains

🧭 Summary

Trend: Reversing with bearish momentum

Momentum: Weak, confirmed by RSI, MACD, and volume

Outlook: Cautious; wait for reversal confirmation above ₹966

Valuation: Very high P/E (98.9) vs industry (33.4), negative PEG, declining profits, and heavy institutional selling suggest risk despite low debt and decent ROE

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