Weekly chart of Coforge Ltd (NSE)

🔍 Technical + Fundamental Breakdown (Coforge Ltd | Weekly Chart) ✅ Elliott Wave Structure: The recent recovery move appears to be a Wave 3 push in a standard 5-wave impulse structure: Wave 1: Bottomed around ₹6,375 Wave 2: Pulled back to retest 200-week EMA Wave 3 (Current): Strong bullish candle cluster forming a potential continuation breakout zone Upcoming Wave 4 could retest support before final push in Wave 5 ✅ MACD Bullish Divergence: In the April–May period, while price made a lower low, MACD histogram formed a higher low, signaling bullish divergence. Followed by a sharp bullish crossover — confirmation of reversal strength. ✅ Anchored VWAP Analysis: AVWAP from the December 2024 peak shows the stock recently broke above it, indicating shift in control from sellers to buyers. The same AVWAP now acts as dynamic support around the ₹8,100–₹8,250 zone. ✅ Fundamental Strength Snapshot: ROCE consistently above 25%: Indicates efficient capital deployment 10+ years of consistent profit growth Strong institutional holding and robust digital transformation tailwinds 🧠 Summary: This chart reveals a high-probability bullish continuation setup backed by: Elliott Wave progression MACD bullish divergence AVWAP support reclaim Sound financials and growth metrics Watch Zone: ₹8,600–₹8,700 Breakout Target: ₹9,200+ Invalidation Below: ₹8,200 (short-term structure breach)