SWFguy

Naukri: Inverse H&S

Long
NSE:NAUKRI   INFO EDGE
Naukri had a great run from Rs 1600 in March. Its nearly 3.5X in less than a year. It seems an Inverse H&S is being formed. It should consolidate at the 4850 levels for a few days/weeks.
The Zomato story definitely has some link here. Coulds be that existing shareholders are selling to apply in the IPO. Nevertheless, it seem sit will consolidate at 4850 levels, before moving to a new high of Rs 6800.