 "Here's why Mehul Kothari recommends buying Coforge, UPL")
BUY
COFORGE
Target: Rs 3,750
Stop Loss: Rs 3,450
The stock has been under bullish wolfe wave with potential reversal zone of Rs 3,500 along MACD on hourly chart has formed bullish crossover. The hourly RSI is also displaying an impulsive structure near 30 levels which indicates a possibility of an upside.
BUY
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UPL
Target: Rs 775
Stop Loss: Rs 730
The stock has formed a BULLISH BAT pattern on the one hour chart with potential reversal zone at Rs 735 - 740 along with the RSI complementing by displaying bullish divergence.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).
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