Info Edge (India) Limited (NAUKRI) Stock - Complete Technical Analysis - Sep 25, 2024

Info Edge (India) Limited Technical Analysis - Key Levels & Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Let's dive into the technical analysis of Info Edge (India) Limited, trading at 7936. The stock is currently positioned 3.92% below its 52-week high of 8260.35, indicating that it is approaching a crucial resistance zone. Conversely, it sits an impressive 99.80% above its 52-week low of 3972.05, showcasing strong upward momentum over the past year.

Examining the technical indicators, the Average Directional Index (ADX) is at a level suggesting a strong trend. The Relative Strength Index (RSI) is currently in the bullish territory, hinting at potential for further gains, though caution is warranted as it approaches overbought levels. The Stochastic oscillator reflects similar sentiments, showing that the stock is also nearing overbought territory, which may indicate a possible price correction.

Looking at the moving averages, both the exponential and simple moving averages are trending upwards, reinforcing the bullish outlook. The MACD remains positive, further supporting the upward momentum. The Awesome Oscillator shows significant bullish strength, indicating that buyers are in control. The current momentum also supports this bullish trend, suggesting that traders should watch for a potential breakout above the resistance level.

In terms of support, the stock has a solid foundation around the psychological level of 7800, with further support likely around the 7400 mark. Resistance is likely to be encountered at the previous high of 8260, which traders should closely monitor for signs of rejection or breakout.

Overall, while the stock shows robust bullish signs, traders should be aware of potential pullbacks due to overbought conditions indicated by the RSI and Stochastic. This analysis will assist traders in making informed decisions while navigating the volatile market landscape of Info Edge.