COHANCE - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

📊 Technical Analysis Summary for COHANCE (Cohance Lifesciences Ltd.)

Technical Rating: 3.0

📉 Trend Status & Chart Patterns

Trend Status: The stock is currently in a reversal phase, pulling back sharply from its 52-week high of ₹1,360.

Pattern Observed: A descending triangle is forming, with lower highs and a flat support near ₹1,000, indicating bearish pressure.

Price Action: Trading below both 50 DMA and 200 DMA, confirming short-term and medium-term weakness.

📈 Moving Averages

50 DMA: ₹1,037 — Current price is below, signaling short-term bearishness.

200 DMA: ₹1,059 — Also below, confirming medium-term downtrend.

Signal: Bearish alignment; no crossover support.

📊 RSI & MACD

RSI: 46.1 — In neutral zone, showing lack of momentum.

MACD: +2.33 — Slightly positive, but not strongly bullish.

Signal: Mixed momentum; no clear reversal signal yet.

📉 Bollinger Bands

Price is near the lower band, indicating mild oversold conditions.

Signal: Potential for a short-term bounce, but trend remains weak.

🔊 Volume Trends

Current Volume: 97.7K vs 1-week Avg: 1.34 lakh — Below average, suggesting lack of buying interest.

Signal: Weak volume confirms low conviction; no accumulation signs.

📌 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 1,000 Psychological level, recently tested

Support 2 897 52-week low, strong base

Resistance 1 1,037 50 DMA, short-term resistance

Resistance 2 1,059 200 DMA, medium-term resistance

🎯 Entry & Exit Zones

Optimal Entry: ₹900–₹1,000 (near support with tight stop-loss)

Exit Target: ₹1,030–₹1,060 (if bounce materializes)

Stop-Loss: ₹880 (below 52-week low)

🧭 Final Take

COHANCE is in a bearish reversal with weak momentum and low volume. While MACD is mildly positive, RSI and moving averages suggest caution. Traders should wait for confirmation of a bounce before entering. Long-term investors may consider accumulating near ₹900 with disciplined risk controls.

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