Chart Of The Day: Naukri-parent has the potential to jump another 20% in the next few weeks
Published on 14/05/2025 08:36 AM
Chart Of The Day: Naukri-parent has the potential to jump another 20% in the next few weeksInfo Edge has had a breakout on its charts and closing above its 200-Daily Exponential Moving Average (DEMA) for the first time in nearly eight weeks, reinforces the breakout strength.By Sacchitanand Uttekar May 14, 2025, 8:36:55 AM IST (Published)2 Min ReadCNBC-TV18 brings to you "Chart of the Day", where we will get you one chart from expert technical analysts daily and their take on the potential moves that the stock could see.
On Wednesday, May 13, we bring to you Info Edge India, the parent company of platforms like Naukri and 99Acres, from Sacchitanand Uttekar of Tradebulls Securities. Here is his analysis of the stock:
Technically, an Inverse Head & Shoulders formation on the daily & weekly chart, signals a potential trend reversal. This bullish structure is further validated by the weekly RSI moving above the 50 mark, indicating strengthening momentum.
Importantly, the stock has closed above its 200-DEMA for the first time in nearly 8 weeks, reinforcing the breakout strength. This move is supported by strong volumes, both in the cash and derivative segments, lending credibility to the price action.
The pattern target is projected around ₹1,750, while immediate momentum could push the stock towards ₹1,570. From a risk-reward standpoint, the setup remains attractive.
A daily close below ₹1,395 would invalidate the bullish structure, making it an ideal stop-loss zone for fresh entries. We believe this is a good opportunity to consider adding the stock to one's portfolio up to ₹1,440, with the expectation of a resumption in its secular uptrend, aiming for targets of ₹1,570 followed by ₹1,750 in the coming weeks.
Levels of ₹1,750 imply a potential upside of 20% from current levels.
Shares of Info Edge ended 0.8% lower on Tuesday at ₹1,464.5. Despite a 9% gain over the last one month, the stock is down 16% so far in 2025.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.(Edited by : Juviraj Anchil)Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsCapital MarketsInfo Edge IndiaInfoEdgeshare market todayStocks