Long

Updated

Naukri - Increment imminent ??

Info Edge recently exhibited a breakout from a descending triangle pattern with notable momentum and trading volume. The stock is currently taking a resistance near 4300.
A successful break of this zone has the potential to generate further momentum.

Disclaimer: Please note that we are not registered advisors and the views expressed here are solely personal opinions. We strongly recommend consulting with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong.:)

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4500 is an acting psychological resistance. We wait and watch :)

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As discussed, 4500 is an acting psychological resistance. Price seems to consolidate at this level testing it about 5 times already. Although, long upper wicks are not good signals. This proves, the Market is a paradox. So, We wait and watch.

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🚀🚀🚀

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Boom 🚀🚀🚀

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And 12% In !! The 5000 level will be a determining factor for further up move.

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And we see a rejection psychological level. The reason why booking profits based on relevant levels is a good thing.

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Bad results : Info Edge Q1 revenue rises 14% to Rs 676 crore, net profit down 50% amid weak IT sector hiring

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Update: For us, the determined support zone will be 4175. A break and close below it will create uncertainty. This outlook is purely as a swing trader and not as an Investor.

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The Price bounced from the support zone.

Trade closed: stop reached

We are out. The EXIT criteria were fulfilled.
As we booked part profits around 5000 levels, We came out almost breakeven.

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Our SL criteria was triggered so we were out but the outcome came in really good.

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TheChartereds

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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

TheChartereds

🎯 You can now access our personal charts for all Nifty 500 companies📈

👉 Visit nas.io/TradeWithTc to learn Price Action with real life case studies.

#BeYourOwnAnalyst

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