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
Trade Setup (If Reversal Confirms)
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.
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.
Trade attivo
WaveXplorer | Elliott Wave insights
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📊 X profile: @veerappa89
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.