KakasoGhodake

Naukri (InfoEdge) Symmetrical triangle

Long
NSE:NAUKRI   INFO EDGE
Naukri (Info Edge) is a profitable pure play internet company. Their online service websites include Naukri .com, Reak Estate site 99Acres, Jeevansathi Matrimony , Shiksha.com (Education). They have investment in Zomato which they are going to sell in IPO. ZOMATO's strong delivery business model will have bumper IPO listing.
Technically, the stock is bearish . Symmetrical Triangle and PNF like struture suggests that it is a good candidate for accumulation with 4000 as closing basis SL. Buy a good company in its bad times! as the popular saying goes. Also the dotted orange line shows how earlier resistance becomes a support for current retracement. The stock price may go down some more, so divide your buy quantity in three/four parts and buy more in dips.
(Disclaimer: Study charts, do your own analysis, I am not SEBI registered)

Comments