NAUKRI Long opportunity

Dec 12, 2021

NAUKRI

Hi all!

InfoEdge (Naukri) has been following a channel since March 2020(Covid crash). It's now at the lower channel trendline and this I believe generates a good opportunity to go long!

There are multiple indications that strengthen my conviction:
-> Presence of 200 daily EMA
-> Strong support zone
-> Stock is between 50 -61.8% fib level (golden zone)

Risk-averse traders can enter after the stock breaks trendline 1. Aggressive traders can enter as soon as it touches the 200EMA because the stop loss will be really small.

*NOT A CALL*

HAPPY TRADING!!