Coforge-promoted small-cap IT name sees technical breakout; what’s next?
Stock to buy: Systematix said the weekly chart further supports this momentum, with the stock registering an impressive gain of 7.14 per cent.
- Nov 28, 2025,
- Updated Nov 28, 2025 12:23 PM IST
Systematix Shares and Stocks (India) Limited on Friday suggested a 'Buy' rating on Cigniti Technologies Ltd in the Rs 1,857-Rs 1,850 range, asking traders to keep a stop loss at Rs 1,780 for the targets of Rs 1,927 and Rs 1,998, respectively.
On the daily chart, the smallcap stock has formed a bullish candlestick pattern, as it settled 2 per cent higher on Thursday, signalling renewed buying interest. On Friday, the scrip added 0.51 per cent to Rs 1,866, taking its winning run to the fifth trading session.
Systematix said the weekly chart further supports this momentum, with the stock registering an impressive gain of 7.14 per cent.
"A key technical development is the bullish breakout from multiple chart patterns, supported by robust price action and above-average trading volumes. In addition, the stock has closed above the upper band of the Bollinger Bands, reflecting a volatility breakout n early sign of potential sharp upward movement," Systematix said.
The domestic brokerage said trend indicators also confirm strength, adding that moving average analysis shows alignment in favour of the bulls, with the short-, medium-, and long-term averages trending positively.
"The RSI (14) remains above the 60 level on the daily, weekly, and monthly charts, suggesting sustained momentum and strong relative strength across timeframes. The pattern targets are placed at Rs 1,927 and Rs 1,998, both of which appear achievable as long as the stock maintains levels above the Rs 1,780 support," it said.
Cigniti Technologies offers independent quality engineering & software testing services. It is headquartered in Hyderabad, India. Cigniti’s test offerings include quality engineering, advisory & transformation, digital assurance, and quality assurance solutions.
The company has India’s first of its kind Robotics Test Lab, a Mobile Cloud Test Lab with HP & Experitest, a Cloud-enabled Performance Test Lab, and an IoT & Smart Meter Lab. Coforge is among the company's promoters, holding 1,48,75,357 shares or 54.18 per cent stake in the company as of September 30.
Systematix Shares and Stocks (India) Limited on Friday suggested a 'Buy' rating on Cigniti Technologies Ltd in the Rs 1,857-Rs 1,850 range, asking traders to keep a stop loss at Rs 1,780 for the targets of Rs 1,927 and Rs 1,998, respectively.
On the daily chart, the smallcap stock has formed a bullish candlestick pattern, as it settled 2 per cent higher on Thursday, signalling renewed buying interest. On Friday, the scrip added 0.51 per cent to Rs 1,866, taking its winning run to the fifth trading session.
Systematix said the weekly chart further supports this momentum, with the stock registering an impressive gain of 7.14 per cent.
"A key technical development is the bullish breakout from multiple chart patterns, supported by robust price action and above-average trading volumes. In addition, the stock has closed above the upper band of the Bollinger Bands, reflecting a volatility breakout n early sign of potential sharp upward movement," Systematix said.
The domestic brokerage said trend indicators also confirm strength, adding that moving average analysis shows alignment in favour of the bulls, with the short-, medium-, and long-term averages trending positively.
"The RSI (14) remains above the 60 level on the daily, weekly, and monthly charts, suggesting sustained momentum and strong relative strength across timeframes. The pattern targets are placed at Rs 1,927 and Rs 1,998, both of which appear achievable as long as the stock maintains levels above the Rs 1,780 support," it said.
Cigniti Technologies offers independent quality engineering & software testing services. It is headquartered in Hyderabad, India. Cigniti’s test offerings include quality engineering, advisory & transformation, digital assurance, and quality assurance solutions.
The company has India’s first of its kind Robotics Test Lab, a Mobile Cloud Test Lab with HP & Experitest, a Cloud-enabled Performance Test Lab, and an IoT & Smart Meter Lab. Coforge is among the company's promoters, holding 1,48,75,357 shares or 54.18 per cent stake in the company as of September 30.