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NeeteshJain

Info Edge (Naukari) Weakness Ahead

Short
INFO EDGE (INDIA) LTD. (BSE:NAUKRI)  
NeeteshJain Updated   
BSE:NAUKRI   INFO EDGE (INDIA) LTD.
Trend Lines Support and Resistance Elliott Wave infoedge bigshort
8
1
trendline supportandresistance elliottwaves infoedge bigshort
The price action looking weak as it confirmed a Lower High (LH) and now it may continue the downward trend and will fall further down. The price action may reach to following targets.
T1- 1900 (1:1)
T2- 1600 (2:1)
SL - 2360
Comment:
As the stocks opens in green today and then extended the rally. The chart idea did not go active due to impulsive early movement in the morning. Now, it is wise to keep at watch and wait for weakness in price action near resistance zone.

snapshot

(Chart for reference)
Comment:
As expected, price action reverses from the resistance zone, now once it breaches 2300 levels then it confirms further weakness ahead as earlier expected. #watchlist.
snapshot
Comment:
The time has come when we could see clear break out from the trend line.
snapshot

Now,
T1- 2200
T2- 2000
SL- 2440

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