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Coforge Limited
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Coforge: Ending Diagonal Signals Exhaustion Near Wave (D) High

747
Coforge has likely completed Wave c of (D) with a clean ending diagonal near the upper boundary of the multi-month triangle structure. This raises the probability of Wave (D) being complete — if price turns down from here.

Technical View
  • Ending Diagonal: The final leg into ₹1,986 shows a wedge structure — typical of terminal C-waves inside corrective patterns.
  • Structural Resistance: This move hits the B–D trendline, a natural pivot for Wave (D) completion.
  • Pivot Zone: The 52-week high at ₹2,005.35 is a clean external invalidation. A sustained move above it would contradict the triangle scenario.


Trade Setup (If Reversal Confirms)
  • Bias: Short-term bearish (potential Wave E)
  • Trigger: A confirmed bearish reversal candle in the ₹1,985–₹1,995 zone
  • Target: ₹1,700–₹1,750
  • Invalidation: Close above ₹2,005.35

Note: This is a countertrend short inside a strong rally. Wait for the actual reversal signal — the ED alone is not a sell trigger.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
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WaveXplorer
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Elliott WaveTrend LinesTriangle

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Elliott WaveTrend LinesTriangle
WaveXplorer
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
Também em:

Publicações relacionadas

Aviso legal

As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.