COFORGE Bang On!! Two Powerful indicators you cannot miss!
Nov 27, 2024
Simple Elliott wave and Bollinger Bands creates wonders if one combines it together! See for yourself how we were able to capture such a significant move in Coforge, take a look at how we chose Coforge, a momentum stock that has rallied by more than 5% in just 3 trading sessions.
We published Coforge in "Vayu Momentum report" on 22nd November 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
COFORGE Daily chart anticipated as on 22nd November 2024
Wave analysis anticipated as on 22nd November 2024.
Since the past 2 trading sessions, Coforge has not given a close below its previous day’s low and made a fresh high of 8239 levels despite major indices falling which reflects that the daily bias in in Favor of the bulls. Currently, prices are trading near the upper end of the Bollinger bands®, follow-up buying can further intensify buying pressure. Also, RSI is trading at 71 levels giving prices the space to trend further. As per the wave perspective, wave(iii) of wave (3) is ongoing on the upside.
In a nutshell, the trend for Coforge is bullish. A break above 8240 levels is must for bullish momentum to continue.
Trade Setup for Intraday Futures – Long positions can be created above 8250 levels with the target of 8300 followed by 8350 with the stoploss of 8200 levels.
Trade Setup for Positional Futures – Long positions can be created above 8250 level with the stoploss of 8155 levels and target of 8450 levels. (One can book part profit near 8320-8350 levels and can trail stoploss to cost.
Trade Setup for Options – COFORGE 8000CE Buy above 290 levels with the stoploss of 245 levels with the target of 380 levels. (One can book part profit near 330-335 levels and can trail stoploss to cost.)
COFORGE Happened as on 27th November 2024.
Happened – After recommending the stock, Coforge moved exactly as anticipated and achieved both our given targets in Futures and Options as well. It is fascinating to see how accurately combing basic indicators along with advanced wave techniques can help to predict price targets with accuracy! Coforge achieved our given targets and surged more than 5% in just 3 trading sessions.
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