COFORGE
has managed to close above all EMAs 20/50/100/200 along with a spurt in volume . After making double bottom in Sept 2022, it seems the trend is changing with an up-move seen in IT index. Considering the momentum in
CNXIT
, this could move towards 4800, 5100 and 5900 levels. Also something interesting is that relative strength is almost at 0 as compared to Nifty50. Seems COFORGE is getting ready. SL should be 3200 on DCB
Let's see which way the story unfolds. Happy Trading!
Disclaimer -
- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring to this, please consider this ONLY FOR educational & research purposes.
- Past performance is not a guarantee for future predictions
- Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion.
- It's your hard earned money. Treat it wisely
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- Do your own analysis and consult your financial advisor before investing.
TIA!