Buy NAUKRI (INFO EDGE INDIA)
|Buy Range||2340 – 2440|
|Target||2550 – 2600|
|Duration||12 – 15 Trading Days|
|Potential Returns^||7 – 9%|
|CP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Returns^|
|2444.85||BUY||2340 – 2440||2550 – 2600||2280||12 – 15 Trading Days||7 – 9%|
# CP – closing price on Apr 20, 2020
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 2500.
^ Potential returns are calculated based on the median of buy range.
COMPANY OVERVIEW - NAUKRI (INFO EDGE INDIA)
Info Edge (India) Limited operates as an online classifieds company in the areas of recruitment, matrimony, real estate, education-related service in India and Internationally. The company operates online recruitment business through its flagship brand ‘Naukri’ for job seekers and corporate customers. The company operates online real estate classified business through its portal 99acres.com, online matrimonial classified business through its portal jeevansathi.com and online educational classified business through its portal shiksha.com. Info Edge (India) Ltd. has a network of 62 offices located in 43 cities throughout India.
|Sectoral Index||Nifty IT|
NAUKRI (INFO EDGE INDIA) TECHNICAL ANALYSIS - WEEKLY
- As we see in the Weekly chart, the long term trend is positive, and there is a steady support baseline which is moving upwards along with price rise.
- After a sharp downside breakout a month earlier, Naukri Stock Price regained its upward momentum and closing above the true crucial Weekly support, at 2370.
NAUKRI (INFO EDGE INDIA) TECHNICAL ANALYSIS - DAILY
- We are witnessing the formation of ‘Higher Highs Higher Lows’ on a daily chart, which is a positive sign as per ‘Dow Theory’.
- Naukri Share price had surpassed the hurdle of earlier resistance.
- So in a nutshell, there is a Resistance breakout and, the stock is just above the uptrend line now.
- The momentum oscillator RSI is also moving northwards and thus showing strength for this stock.
- This can be a trade setup with a high Risk-Reward ratio. Kindly follow the Naukri target price 2550-2600 as mentioned above.