In the previous session, the market traded with positive bias and managed to hold its bullish move throughout the day. The Nifty index witnessed a range bound trade after a positive opening.  However, in the second half of the market the Nifty saw more gains on upside. Technically, Index formed a Bullish candle on the chart and closed with a net gain of 103.50 points. Traders should be focused on the sector and stock specific while staying positive in the market.

Look at the below research report of ‘Stocks to Buy for – Friday, June 25, 2021’ the market opens.

Coforge Ltd

NSE :COFORGE   BSE :532541  Sector : IT – Software

In the daily chart, Coforg Ltd is moving in the form of ‘Flag Pattern’ and the stock has given breakout over its consolidation phase. Flags are created by a sharp price up move, followed by a consolidation move between parallel lines. Buying can be initiated after a breakout of the consolidation. As per pattern theory, 180 points movement on upside can be expected in coming days. Along with this we can see that the ADX indicator is Bullish as positive DI is moving above negative DI on the chart. A rising window occurred on the candles.

In a nutshell, the short-term trend of COFORG Ltd will remain positive. This is valid as long as 3920 level stays intact on the downside for short term move towards 4230 levels.

Check More Analysis on COFORG at: Coforge Ltd