Naukri / infoedge could collapse to 3200 if the market is weak

Mar 12, 2023

* Consecutive bear flags - the stock drops and then consolidated before doing the same again
* Tech sector is being sold off and this stock has continued to be sold on bounces
* Technically oversold but now that it has consolidated for a few days - expect it to continue its march downwards
* Stop at technical resistance at 3600 - ideally buy an ITM put and leave till expiry

Mar 13, 2023

Note

First signs of real weakness and a breakdown from the bear flag. Still too early to say if this will hit the target - however be ready to take some profits below 3350 or so

Mar 14, 2023

Trade closed: target reached

Can take 50% profit at 3300 and let the rest of the position ride towards 3200

Mar 30, 2023

Trade closed: stop reached

Took 50% off lower and the rest now - net net the trade was a loser. Key lessons learnt
* Look at longer term picture and try to short stock on the bounce - key is having patience
* Take off 50% when in the money