Coforge Trading Idea 💡

Introduction

Coforge is an IT services company providing end-to-end software solutions and services. .
It is among the top-20 Indian software exporters. Prominent global customers include British Airways, the ING group, SEI Investments, Sabre, and SITA. Over the years, Coforge has set up subsidiaries in the US, Singapore, Australia, UK, Germany and Thailand, mainly to market and mobilise projects for the software division. The company has business partnerships with large IT companies across the world.

Observation

As we can see on Weekly chart stock shows form inverted head & shoulder pattern which clearly indicate that stock can go up to 2000 level in a very short span of time after breaking out its level 1870 and sustain above it. Coforge recently posted a 16.5% YoY jump in net profit, reaching ₹261 crore.

Let's touch fundamentals

• ROCE-20.3
• ROE-16
• PE-
• Debt to Equity-0.14
• Promotor Holding-0
• Public Holding-11
• Promotor Holding Pledge-0

Technical Analysis & indicators 🔍

Weekly Chart

Inverted Head & Shoulder Pattern

News of the day

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