COFORGE - Short term Bearish trendCOFORGE - Short-term Bearish trend
1. It cuts the secondary trend support and the primary trend resistance as well.
2. next support will be in 1890.
3. Buy once it touches 1890, hopes the market trend reversal at the same time.
Note:
1. I’m not a SEBI Registered advisor, my research is personal and for educational purposes only.
2. Always check with your financial advisor and take the trade as per your risk/reward ratio.
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COFORGE
Redington #Redington 166.75 to 230 #INFY #TCS #WIPRO #NIITLTD #Q#REDINGTON
NSE:REDINGTON
NSE:REDINGTON
NSE:REDINGTON
REDINGTON CMP 166.75
TARGET 220+
SL 155
TF < 6 months
RR > 3
Return > 40%
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
COFORGE : CMP 5070Script Name : COFORGE
CMP : 5070
SUPPORT : 4990 , IF BREAKS 4600(STRONG)
Correction : In 60 mints
Target :
Description : Stock Trading in hourly Correction and now trading on a support levels of stock Breaks 4990 then it will expected to enter in 4 hourly parrtern which expected to take stock to levels 4600....only buy Above 5500..
AVOID
OptionsTrade for CoforgeOptions Trade: Buy Coforge 5000CE@290-300. For hedding Sell 2Lots of 5300CE@166-175. For reducing margin requirements Buy 1Lot 6000CE@35-40. Hold this trade till Coforge price reaches 5300 or if you have margin, Buy 1Lot of Future strictly above 5270.
Net Risk: 340(Assume 170*2) - 300 - 40 = Rs. 0 or assuming volatility and bid/ask spread it may go upto Rs.10-20*200 = Rs.2000-4000.
Profits assuming Rs.200@5300 after all adjustments = 200*200 = Rs.40,000
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice. All Disclaimers Apply.
COFORGE .. POSITIONAL buying opportunityHi Friends,
COFORGE.... formerly NIIT TECH, has very good run to upside and now corrected more than 25% from peak. It is very good buying opportunity, positional with stoploss of 10% from CMP.
Let see how it pans out.
Your humble trader
Kiran
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Disclaimer:
I am not a registered SEBI advisor, so do your own work and contact your financial advisor.
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