Coforge: Cup Pattern Breakout Signals Potential Resumption of Long-Term Uptrend

Coforge is showing a high-quality Cup Pattern breakout on the daily timeframe after a sharp correction earlier in the year. The stock has now reclaimed its neckline resistance near ₹1,480–₹1,500, indicating that buyers are regaining control and a fresh bullish phase may be underway. Technical Structure Analysis After correcting from around ₹1,750, the stock formed a well-defined rounded cup structure between February and May. The recent rally has brought price back to the neckline resistance zone near ₹1,500. The breakout is occurring after several weeks of accumulation and higher lows, reflecting improving market sentiment. The rounded nature of the base suggests strong institutional absorption rather than speculative buying. A sustained move above the neckline can trigger a continuation of the primary uptrend.