COFORGE recently crossed above 200 MA, TARGET - 6600COFORGE recently crossed above 200 MA and broke out it's resistance today at 5620, currently trading at 5654.
COFORGE trade ideas
Reverse head and shoulder on COFORGECOFORGE formed a reverse head and shoulders pattern on daily chart. Price broke out of resistance area with strong bullishness. Also there was a gap up on todays opening indicating there is strong buying pressure. Stop loss can be held just below previous swing with target the width of the head. Provides an ideal risk reward of 1:2.
Hope you liked this idea. If so please do boost this idea or leave a comment below on what you think. Otherwise happy trading :-).
My view on Coforge Coforge forming inverse head and shoulder
Looking tgt 5320-5370-5400++
in very short term👆
Keeping on radar Coforge 5300 CE
👆👆
COFORGE : BULLISH PATTERN FORMINGCOFORGE is now at the support level and forming a bullish pattern at the daily time frame also a fundamentally Good pick fell recently because its recent result is not very bad also acquired a new business to expand and grow its sales exponentially and we can expect good upside movement from this level Target and stop loss on the chart.
COFORGENSE:COFORGE
TRading in RAnge
RREverse from nottom line
Target- 5638/6105/6732
Sl -Bottom red line
Rsi>50
Moving average showing Buy
Time to accumulate Coforge till the stop loss This share is in buy region. Good to accumulate till the stop loss area. Below that risky trade. Solid chance to go to the recent high and maybe even higher if the trendline is respected. decent risk and returns on this.
Coforge Break out the Weekly Head & ShoulderCoforge Break out the Weekly Head & Shoulder in Weekly time frame if sustain above 5788 Sl 5427 possible target 6000-6300-6600+++++
COFORGE LEVELSFor educational purposes only: Coforge appears favorable for a long position within the demand zone. You can consider buying in the entry zone, which is between 5500 to 5600, upon observing a reversal candle on a 15-minute time frame. The subsequent targets could be 5700, 5800, 5900, and 5980, with a stop loss at 5450. If you find my analysis helpful, please follow and share.
SWING IDEA - COFORGEIn the ever-evolving tapestry of stock markets, CoForge has emerged as a compelling prospect, hinting at the possibility of a promising rally. The technical landscape paints an intriguing picture, suggesting favorable conditions for a potential swing trade.
Reasons are listed below :
CoForge has undergone multiple tests within the 5800-5900 zone, breaking through and retesting this critical range. The current attempt to resume the upside move indicates a resilient upward momentum.
Notably, CoForge is supported by the 0.382 Fibonacci retracement level, adding a robust layer of support and fortifying the potential for an upward trajectory.
CoForge consistently forms higher highs, a testament to a sustained uptrend and indicative of positive market sentiment.
Trading above both the 50 and 200 exponential moving averages (EMA), CoForge maintains the integrity of its trend, providing confidence in the continuation of the upward movement.
The presence of a bullish marubozu on both daily and weekly timeframes adds a bullish tone to the technical outlook, further reinforcing the potential for a positive price action.
Target : 8404
Stoploss : weekly close below 5987
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@visionary.growth.insights
Coforge
Has given a clear BO of the Gann level at 6548 and heading towards 8000
Good RR as the SL is just below 6500
COFORGEThis stock gave breakout with good volume and retest and this is good opportunity for swing trade
Great Break out StockCOFORGE gives a Great Break out on upside we can see upto 50% Return in Coming months and 20% in few weeks
COFORGENSE:COFORGE
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
COFORGENSE:COFORGE
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
BUY COFORGE CMP 5123 10% Upside PotentialConviction Delivery Idea
BUY COFORGE CMP 5123 SL 4939 TGT 5594 (10% Upside Potential)
Expects positive for Coforge after the company reported 9.5% QoQ rise in consolidated net profit in Q2.
Company maintained FY24 CC revenue growth guidance of 13%-16%.
The board declared a second interim dividend of Rs19/share.
Volume of 4.5 lakh shares traded on NSE
COFORGECoforge is at its all time high break out with gud volume. also supported by 20& 200 ma. Break out happened with gud volume on daily time frame.
today retest its ATH break out.
it may be a gud buy with very less risk.
for swing trade SL will be - 5490
Target shown in screen
it has gud potential for upside . Follow strict SL & Proper RISK REWARD RATIO. This is the only holy grail in the market.
Coforge Ltd Buying Zone @ 5890-6135
Stoploss @ 5455
RRR 1 : 3.72
Target : 7494-8516
Profit % : 27% TO 44%
Profit : 1600-2600
Duration : 3 TO 12 MONTHS
Coforge LtdTARGET IN CHART
SL 5700
FUNDAMENTALS
Market Cap
₹ 37,516 Cr.
Current Price
₹ 6,087
High / Low
₹ 6,121 / 3,565
Stock P/E
51.7
Book Value
₹ 541
Dividend Yield
1.07 %
ROCE
30.8 %
ROE
25.1 %
Face Value
₹ 10.0
Promoter holding
0.00 %
EPS last year
₹ 114
EPS latest quarter
₹ 29.4
Debt
₹ 1,209 Cr.
Pledged percentage
0.00 %
Net CF
₹ 123 Cr.
Price to Cash Flow
39.4
Free Cash Flow
₹ 797 Cr.
Debt to equity
0.36
OPM last year
16.0 %
OPM 5Year
16.8 %
Reserves
₹ 3,266 Cr.
Price to book value
11.3
Int Coverage
11.3
PEG Ratio
2.43
Price to Sales
4.30
Sales growth 3Years
24.2 %
Profit Var 3Yrs
18.3 %
COFORGE - 5800 6000 by DEC 2023Follow the ARC and enjoy the IT stock where there is deep pessimism.
5800 6000...Buy on all dips Stop 4300 on Closing basis
