Coforge | Double Bottom Reversal with RSI + MACD Breakout

📌 Coforge Ltd. – Closing Price: ₹1,768.60
📊 Technical Indicators Explained

Coforge is showing strong technical signals. A Double Bottom pattern 📉➡️📈 suggests a possible bullish reversal, while a strong bullish candle 🔥 confirms momentum. The RSI breakout ⚡, MACD crossover 📊, and volume surge 🚀 all indicate growing trader participation. With supports holding firm and resistances nearby, the stock is entering a decisive zone.
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📈 Bullish Case – Why the stock could go up
Double Bottom signals potential trend reversal.
Strong bullish candle with volume validates buying interest.
RSI breakout + MACD crossover = bullish confirmation.
Fibonacci retracement levels open upside zones towards ₹1,852 – ₹1,994+.

📉 Bearish Case – Potential downside risks
If price fails to sustain above ₹1,726, weakness may return.
Broader market corrections could weigh on momentum.
A breakdown below ₹1,657 would weaken the bullish outlook.

⚡ Momentum Case – Short-term Trading Edge
Strong bullish candle + RSI breakout = near-term strength.
Sustaining above ₹1,780–₹1,800 could push towards higher Fibonacci levels.
Heavy volume indicates short-term traders are active.

📊 Support & Resistance Levels
Support Zones: ₹1,657 | ₹1,683.67 | ₹1,726.13
Resistance Zones: ₹1,794.93 | ₹1,821.27 | ₹1,863.73

📅 Short-term vs. Long-term Perspective
Short-term: Stock may test resistance levels between ₹1,795 – ₹1,860 if momentum sustains.
Long-term: Formation of a double bottom indicates potential for a structural trend reversal if higher levels hold.

✅ Conclusion: Coforge is showing a technical reversal pattern with strong momentum signals.
👉 The stock is at a key breakout zone — short-term traders may track resistances closely, while long-term investors can monitor the double bottom for confirmation of sustained trend change.

⚠️ Disclaimer – Please Read Carefully
The information shared here is meant purely for learning and awareness. It is not a buy or sell recommendation and should not be taken as investment advice. I am not a SEBI-registered investment advisor, and all views expressed are based on personal study, chart patterns, and publicly available market data.
Trading — whether in stocks or options — carries risk. Markets can move unexpectedly, and losses can sometimes exceed the money you have invested. Past performance or past setups do not guarantee future results.
If you are a beginner, treat this as a guide to understand how the market works — practice on paper trades before risking real money. If you are experienced, always assess your own risk, position sizing, and strategy suitability before entering trades.
Consult a SEBI-registered financial advisor before making any real trading decision. By engaging with this content, you acknowledge full responsibility for your trades and investments.

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