Naukri (Info Edge) is a profitable pure play internet company. Their online service websites include Naukri.com, Reak Estate site 99Acres, Jeevansathi Matrimony, Shiksha.com (Education). They have investment in Zomato which they are going to sell in IPO. ZOMATO's strong delivery business model will have bumper IPO listing.
Technically, the stock is bearish. Symmetrical Triangle and PNF like struture suggests that it is a good candidate for accumulation with 4000 as closing basis SL. Buy a good company in its bad times! as the popular saying goes. Also the dotted orange line shows how earlier resistance becomes a support for current retracement. The stock price may go down some more, so divide your buy quantity in three/four parts and buy more in dips.
(Disclaimer: Study charts, do your own analysis, I am not SEBI registered)
Technically, the stock is bearish. Symmetrical Triangle and PNF like struture suggests that it is a good candidate for accumulation with 4000 as closing basis SL. Buy a good company in its bad times! as the popular saying goes. Also the dotted orange line shows how earlier resistance becomes a support for current retracement. The stock price may go down some more, so divide your buy quantity in three/four parts and buy more in dips.
(Disclaimer: Study charts, do your own analysis, I am not SEBI registered)