Info Edge (India) Limited (NAUKRI) Stock - Complete Technical Analysis - Oct 15, 2024

Info Edge (India) Limited: Technical Analysis for Smart Trading 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.Info Edge (India) Limited, currently trading at 8,288, presents an interesting technical picture. The stock is 2.17% below its 52-week high of 8,472, which was reached recently on October 9, 2024, and is trading 108.67% above its 52-week low of 3,972.05 recorded on October 26, 2023. This significant upward movement indicates strong buying interest over the past year.

In the last few trading sessions, the stock has shown some volatility, with the most recent session closing at 8,288.40, slightly up from the previous day. Notably, there was a surge in price on October 9, where the stock reached its peak before retracing slightly. This price action may signal a potential resistance zone around 8,400, and traders should watch for any inability to surpass this level as a possible sell signal.

Analyzing key technical indicators, the MACD shows bullish momentum, suggesting upward movement. The RSI, currently at 60, indicates the stock is in a healthy range, while the Stochastic oscillator points toward potential overbought conditions, with a %K at 75. This could lead to a consolidation or pullback in the near term.

Support levels are identified near 8,200, where buyers may step in, given the recent price dips, while the next significant support lies at 8,000. The Average Directional Index (ADX) at 22.39 reflects a weak trend, implying that traders should exercise caution and look for clearer directional signals before entering new positions.

Additionally, the stock has demonstrated some gaps in price, particularly when it moved from 8,200 to 8,400 within a short time frame. This could indicate strong buying interest but also warrants attention to potential reversals if the price fails to hold above 8,300.

Overall, traders should focus on the key levels around 8,400 for resistance and 8,200 for support while keeping an eye on the technical indicators for signs of a reversal or continuation of the trend. This analysis provides insights that can assist in making informed trading decisions for Info Edge (India) Limited.