Coforge Reclaims Key Averages: Is Momentum Back?

Coforge Limited closed at ₹1,826, gaining 4.40% in the latest session. The stock has moved back above its 20-day EMA of ₹1,810 and 50-day EMA of ₹1,772. After falling from the ₹2,000 zone, Coforge went through a correction and consolidation phase. The recent bounce is important because the stock has once again moved above its short-term moving averages. On the technical side, the broader trend remains constructive as the stock continues to trade well above its 100-day SMA at ₹1,625 and 200-day SMA at ₹1,525. The rising trendline visible on the chart also remains an important support zone. RSI is at 51.98, recovering from the lower levels. This indicates that momentum has improved, although RSI is still not in an overbought zone. MACD is also showing an improvement. The MACD line has moved above the signal line, suggesting that selling pressure is reducing. However, both remain below the zero line, so confirmation of stronger momentum is still needed. For me, ₹1,830–₹1,850 is the immediate zone to watch. A sustained move above this area could strengthen the recovery setup. On the downside, ₹1,800 is the first short-term support, followed by ₹1,770–₹1,780. Overall, the chart is showing early signs of recovery after the correction, but I would prefer to see sustained price action above the recent resistance before considering the move a confirmed trend reversal. Disclosure: I or my family members do not have any position in Coforge Limited. This is my personal technical view and not investment advice.