Technical Analysis of Coforge Limited.

The stock

is experienced a sharp downfall from its previous highs near 2000 dropping heavily to the 1100 zone between January and March. However the recent price action shows that the heavy selling pressure has stopped for now. The stock has built a strong base major support around the 1100 - 1150 level. After touching this bottom it has started a short-term recovery making higher lows and pushing the price back up to its current trading level of ***** stock has a clear resistance level at 1477.55. The stock recently tried to move toward this zone but saw some profit booking. For a confirmed trend reversal and fresh bullish momentum Coforge needs to break out and close strongly above this 1477 hurdle. For short-term buyers it is safer to either wait for a small dip near the 1250-1300 zone or take a fresh entry only after a clear high-volume breakout above the 1477 resistance. Existing holders should continue to hold their positions but must maintain a strict stop-loss below the major 1100 base to protect capital from unexpected reversals. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.