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Coforge - Cup and handle pattern (not convincing yet)The small cup and handle pattern (in blue color) forming on Coforge does not give enough conviction to go long.
Other technical patterns are also not very convincing.
Indicator :Current Signal :Interpretation
EMA :Neutral/Turning :The short term EMA has started curling upward, signaling a shift in trend architecture from distribution to potential recovery, but the still below medium and long term EMA
RSI :Neutral (~60) :Hovering in a neutral zone, suggesting the stock is neither overbought nor oversold and has room to move if a breakout occurs.
MACD :Mixed :While the daily MACD shows improving momentum, the weekly and monthly readings remain bearish, suggesting longer-term caution is still warranted.
Volume :Moderate :Low below moving average volume
Bull Case : A successful breakout above ₹1,287 could target the ₹1,343–₹1,355 zone initially, with longer-term targets potentially reaching ₹1,550+ if the recovery sustains.
Bear Case : If the stock fails to hold above the first support at ₹1,211, it would suggest the breakout is stalling. A drop below ₹1,131 would put the 52-week lows back in focus.
Other Factors : Coforge is expected to consider a dividend at its Q4 FY26 board meeting on April 30, 2026, which could act as a near-term catalyst for price movement.
I will wait for forming of the larger cup (in orange color) near ₹1,500–₹1,550 before taking long view. Currently, Coforge is trading almost 36% below its 1 year high.
Disclaimer: This information is for educational purposes only and does not constitute financial or investment advice. Stock market investments are subject to market risks.
PSP Projects Ltd. (NSE: PSPPROJECT)Current Market Price (CMP): ₹836.05 (Up 8.23% in the latest session).
Following a prolonged corrective phase from its 52-week high (also ATH) of ₹1,029.90 down to a key structural low of ₹569.20, PSP Projects Ltd. has entered a decisive bullish reversal phase.
It has shown a strong recovery from its March–April 2026 lows, with the stock now trading near ₹836 after reclaiming key moving averages and witnessing improving momentum indicators. The current structure suggests a medium-term bullish continuation attempt, although some oscillators indicate short-term consolidation before the next directional move.
The trend structure currently resembles:
Accumulation → Breakout → Retest → Continuation
The stock has demonstrated:
Strong reversal from the ₹570–600 support zone
Higher highs and higher lows over recent weeks
Rising volume participation during breakout phases
Momentum improvement across RSI, MACD, and trend indicators
Chart Structural Patterns & Price Action & Technical Indicators
1. The Rounded Accumulation Base (Rounding Bottom)
The stock found structural demand between ₹570 and ₹600. The price action from Feb 2026 through May 2026 has formed a well-defined Rounding Bottom / Rounded Accumulation Base, forming a Cup and Handle pattern.
The Breakout: The recent move past the ₹780-800 milestone marks a decisive breakout from this accumulation curve.
EMA: Trading above all short, medium and long term moving averages. Recently 20EMA crossed above 50EMA, confirming bullish setup. This crossover is generally considered, a medium-confidence buy signal.
RSI: The RSI appears to be trading around the 60-63 zone after cooling off from overbought territory near 70 in early May.
MACD: The MACD indicator recently generated a bullish crossover and remains above the zero line.
ADX: The ADX has bottomed out and is beginning to curl upward beyond 20.
Bull Case: The bullish outlook confirms as long as:
Price sustains above ₹800
RSI remains above 50
MACD stays positive
Conservative traders can buy on daily close above ₹868-870; risk traders can buy now.
Potential Upside Targets
Target 1 (easier): ₹900-930 (strong resistance zone)
Target 2 (medium): ₹1,000-1,030 (will meet ATH)
Target 3 (risky): ₹1,080 only possible if momentum continues beyond ATH and breakout sustains.
Stop Loss: Daily closing below EMA support zone (around ₹760–₹770) and would invalidates this breakout setup.
Bear Case: The structure weakens if:
Price falls below ₹760
EMA bullish crossover fails (20EMA & 50EMA)
RSI breaks below 45
This could trigger, deeper correction toward ₹680–700
Happy Trading
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any stock. Technical analysis, including the study of RSI, SMA study, MACD patterns, is based on publicly available information and on historical data, which does not guarantee future results. I am not a SEBI-registered financial advisor, and Investors should conduct their own research or consult with a SEBI-registered financial advisor before making any investment decisions. Investments in the securities market are subject to market risks; read all the related documents carefully before investing. 
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ASHAPURMIN - Cup & Handle Breakout Gains StrengthAshapura Minechem appears to be breaking out of a multi-month Cup & Handle formation, backed by a noticeable surge in volume. After spending several weeks consolidating within the handle, the price has finally pushed above the neckline, suggesting that buyers may be preparing for the next leg higher.
The overall structure has improved further with the 50 EMA moving above the 100 EMA , a signal that often supports trend continuation. More importantly, the handle developed above both moving averages, showing that dips continued to attract buying interest rather than aggressive selling.
As long as the stock holds above the 680–690 breakout area, the bullish setup remains valid. If momentum continues to build, the next upside levels to watch are 800, 900, and 1,000 region over the medium term.
We will update further information soon.
By @BrightRally_Research 
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Centum Looks Ready for a Powerful BreakoutCentum Electronics is forming a strong cup and handle structure on the daily chart. After the long correction from the previous highs near 3040 , the stock gradually built a rounded base and recovered steadily from the 2044 low. Instead of seeing aggressive selling near the highs again, the price has started consolidating in a tight range just below resistance, which is usually a positive sign. The handle formation remains controlled, showing that buyers are still holding positions rather than exiting aggressively.
What makes the setup interesting is how price continues to respect the higher-low structure while staying close to the neckline area around 3066 . Normally, weak stocks get rejected hard near resistance, but here the pullbacks are shallow and buying pressure keeps returning quickly. The tight handle also suggests volatility is compressing, which often happens before a larger directional move.
The key breakout level to watch is 3066 . A strong close above this neckline could confirm the pattern and trigger fresh upside momentum. Based on the depth of the cup, traders can long for the following levels: 3350, 3685, and 3855.
As long as the price holds above the handle support zone after the breakout, the broader bullish structure remains intact. Until then, the stock is still in consolidation mode, but the overall setup continues to favor accumulation rather than distribution.
By @BrightRally_Research
Always do your analysis before taking any trade.
