Coforge Ltd

NSE :COFORGE   BSE :532541  Sector : IT – Software

About Company: Coforge is an IT services company providing end-to-end software solutions and services. .
It is among the top-20 Indian software exporters. Prominent global customers include British Airways, the ING group, SEI Investments, Sabre, and SITA. Over the years, Coforge has set up subsidiaries in the US, Singapore, Australia, UK, Germany and Thailand, mainly to market and mobilise projects for the software division. The company has business partnerships with large IT companies across the world.

Daily Chart of COFORGE LTD.:

Technical Outlook of COFORGE Ltd.:

In Last trading on Friday 24th Dec 2021 COFORGE LTD. Stock Gained 3.48% and closed at 5645.65 on NSE. Looking at the daily chart we can clearly observe the stock is consolidating and forming a triangle pattern, breakout is yet to be seen in the stock. Once the triangle pattern is broken we can see a rally in the stock. On the other hand indicators also supporting the momentum in the stock. Volume is on the subdued side. But once stock gets out of the consolidation pattern we may see stock getting into the radar of traders.

Hence we recommend buying COFORGE Limited only once it sustains above 5750 we can expect targets of 6750- 6850 in the next 2-3 months in the stock. Any closing below 5000 levels you need to take and exit from the stock.