FORMING DESENING TRIANGLE TIME TO BRING THIS STOCK INTO WATCHLIST
BUY WHEN THE TREND LINE BREAKS For Target of 5715
Info Edge has broken down the trendline and also forming a curve pattern. And also given a closing below important support. So it shows a high probability of falling further to support.
BUY WHEN THE TREND LINE BREAKS. MY ANTICIPATION IS IT MIGHT GIVE A GOOD MOVE BEFORE ITS EARNINGS.
People have lost their jobs during this lock down, demand for websites like Naukri will increase drastically. One Must add this stock in their portfolio on dips as highlighted in the chart
Date: 23 April 2021 Naukri (Info Edge) CMP: 4,888 Inverted H&S pattern break out in the chart. Look for a 15% upside target. All targets and SL given in the chart.
NAUKRI(INFO EDGE) formed an Inverted Head and Shoulder pattern on the hourly chart. Previous support has now become resistance and acting as a neckline combined with 50 EMA crossing 200 EMA from below.
In consolidation after uptrend, can start moving up again.
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,...
Can move up from the support zone created by the previous sideways price action.
Price rejected big from the top ( All time high ) and tries to find the support. In the last 4 days price moved up but came down to the same level in a single trading day, this shows the sellers are strong. The good news is that the price is trading above the important support level.
NAUKRI gave Inv H&S breakout and trading in a ascending channel currently testing support region , giving Blue Trendline breakout and sustaining above round level 4800 can bring good upside move towards upper Trendline of channel Must have this is watchlist for coming days. View negates below 4670 level
NAUKRI near Trendline Breakout (Red line) Looks good above 3651 levels (Green Line) for the Target of upper Trendline (Blue)
Rs 1600 to Rs 3600 in 5 months. Looks like it has outrun itself.
Trade active! Happy trading ;)