In the previous session, the market witnessed volatility throughout the day. The Nifty index opened on a positive note and made high near 18141. Later we have seen some sell off from higher levels. The index formed a Bullish candle on the chart and closed with a net gain of 241.75. Traders should be focused on sector and stock specific approach for the next trading day.

Look at the below research report of ‘Stocks to Buy for Tuesday, January 10,2023’before the market opens.

Coforge Ltd.

In the last trading day, COFORG share prices formed a bullish candle on the chart and closed with a net gain of 3%. On the daily chart, we can see that prices have formed a ‘V- Bottom pattern’ and are currently placed near the Neckline resistance zone. 4040 level has now become an important resistance for the stock. In the previous session, stock retested the same level with positive momentum but didn’t close above the break out zone. The Relative Strength Index (RSI) on the daily chart is 56.44, indicating bullishness.

In short, the trend for COFORG looks to be positive for now. Positions can be created only above 4040levels, which can take prices towards 4143 levels. If the price will sustain above 4143 levels, then we will review this stock again.

Check More Analysis on COFORG at: Coforge Ltd.