Coforge has shown renewed strength on the charts — the stock recently broke out of a Descending Triangle pattern on its weekly chart, a move that technical analysts believe could open the door for further gains.
According to the breakout call, short-term traders may aim for a target price around ₹2,200 over the coming months, with a protective stop-loss suggested near ₹1,790 to manage downside risk.
The descending triangle — typically viewed as a bearish-continuation pattern — becomes bullish when price decisively breaks above its descending resistance line rather than breaking downwards. That appears to be what has happened with Coforge.
Prior to the breakout, the stock had faced consolidation and weakness. But a rebound above key technical levels now suggests improving momentum, possibly reflecting renewed investor interest and positive sentiment around the stock’s business outlook.
That said — as with any technical breakout — confirmation with volume and sustained follow-through will be important. Traders and investors should watch how the price behaves in coming sessions, and protect their positions with a clear stop-loss if using this as a trading opportunity.
