The weekly chart of Newgen Software shows a strong uptrend from early 2023 to early 2025, followed by a significant correction. Currently, the stock is trading below the 50 EMA (~1054), indicating short-term weakness, but it has taken support near the 100 EMA (~943) and bounced back from levels close to the 200 EMA (~724), suggesting strong buying interest at lower levels. The recent bullish candle from the support zone indicates a potential reversal or relief rally. For a bullish continuation, the price must reclaim and sustain above the 100 EMA. Resistance lies around 943–1054, and support is near 724.