BSE
SWING IDEA - NAUKRI (INFOEDGE INDIA)The technical intricacies of NAUKRI (INFOEDGE) indicate a promising buying opportunity.
This is a very good buying opportunity for such a fundamentally strong stock.
Reasons are stated below :
The 5015 levels experienced repeated testing before the price successfully breached them. Presently, the market is undergoing a reevaluation, with the price in the midst of revisiting and reassessing these critical levels.
A positive doji candle has formed at the 5015 level on daily time frame.
Price is above 50EMA and 200EMA i.e the trend is intact.
Broke strong consolidation of 2years.
Price broke the crucial level of 5015 with a marabozu candle (with high volume).
Target - 5751 // 6542 // 7178
StopLoss - weekly close below 4670
Nifty On Upside On Daily ChartThis is the daily timeframe chart of Nifty where Nifty50, and Indian index stayed in consolidation for almost and month, and now, after the breakout, it is ready to balloon as the recent candle (at the time of publishing this idea has formed a full strong green candle which indicates a positive momentum in the index.
However, any rally without corrections seems to be unhealthy as the market might not digest the rally and calm down such movement.
SWING IDEA - PIDILITE INDUSTRIESPIDILITE INDUSTRIES looks good for a swing trade. This stock is a fundamentally strong and is now available at a discount as per technicals.
The Reasons are listed below :
Strong support at 2250-2300 levels.
Formed a strong bullish engulfing candle on weekly timeframe.
0.382 Fibonacci support.
Broke falling wedge pattern i.e a bullish sign.
Holding onto 2450 levels from last 2 weeks.
Target - 2735 // 2918
SL - 2300 on closing basis
Paras Defence And Space Tech LONG TERM VIEWParas Defence is forming a Symmetrical Triangle On Weekly Timeframe. The Entry and Stoploss would be considered on Candle Closing Basis.
Entry - Above 800
Stoploss- Below 576
Targets - 1001,1260,1550 and 1760 (These Targets would be achieved in 2.5 years max from the date of entry).
NOTE :- This View is purely based on Technical Analysis and is for educational purposes only. Please consult your financial advisor before taking any trade.