Info Edge (India) Limited (NAUKRI) Stock - Complete Technical Analysis - Oct 23, 2024

Info Edge (NAUKRI) Stock Analysis Key Support and Resistance Bullish Patterns Emerging

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.

The current price of NAUKRI stock at 7,831 reflects a period of volatility. A Morning Star pattern indicates a bullish reversal, with today's recovery from the 7,551 low confirming this pattern. The stock shows resilience above its 50-day moving average but faces resistance at 7,950. If it breaks above this level, it could head towards 8,200 in the near term.

Momentum Indicators like the RSI and Stochastic Oscillator are leaning toward oversold territory, hinting that buyers could step in soon. The MACD is still positive, signaling that the stock could see continued upside if it breaks above key resistance. The ADX, however, is weak at 21.05, meaning the current trend lacks strong conviction. Traders should keep an eye on volume for confirmation of any breakout above resistance.

With support levels around 7,550, the stock has room for potential downside testing. However, as long as it holds above this level, buyers could take control, especially given the current oversold conditions. In case of further drops, the next major support lies near the 200-day EMA at 6,592.

Overall, traders should wait for a break above 7,950 or a bounce from 7,550 for clear direction. Volatility remains high, with ATR values pointing to large price swings, so risk management is essential.