Info Edge (India) Limited (NAUKRI) Stock - Complete Technical Analysis - Nov 08, 2024

Info Edge (NAUKRI) Technical Analysis Key Support & Resistance Levels Will It Rebound

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 (NAUKRI) is seeing considerable interest around its current price level of 7,655, which is under the 10- and 20-day EMAs, a sign of bearish momentum in the short term. With an RSI of 45, the stock is approaching oversold territory but lacks the volume support for a solid reversal. ADX at 22 indicates a weak trend, suggesting that a definitive directional shift may not be imminent. MACD remaining in the negative adds weight to bearish sentiment, and with the CCI showing a downward trend, it suggests that caution is needed for short-term buyers. The Hull Moving Average also sits above the current price, emphasizing the pressure on the upside.

In terms of price patterns, recent daily highs indicate strong resistance around the 7,900 level, which aligns with significant moving average resistance. On the support side, the 7,500 zone could attract buyers, followed by stronger support around 7,000. Momentum indicators like the Ultimate Oscillator show a neutral stance, while Stochastic RSI levels are in the upper range, hinting at a potential price rebound, though likely limited to the 7,900 resistance. Given the current setup, any breakout above 7,900 could suggest a trend reversal, while sustained moves below 7,500 would likely reinforce the bearish trend. Traders should monitor price action closely and await clear signals, with high attention on volume spikes and trend strength.