Naukrilong
Naukri: Breakout from Key Trend Line - Short Opportunity?Hello Traders,
Critical Zone Breakout from Supply Zone Indicates Potential Downside Momentum,
We have A Supply Zone, And We Breaked a Trend Line So, There is A Potential Move Downside.
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#Naukri Can it cross resistance this time?Naukri on daily time frame has reached its resistance of 4544 which it has not crossed since Aug'23. Pattern-wise, I can see cup & handle formation but RSI is also at its resistance level of 72.64. So I will plan to go short tomorrow if there is any sign of reversal at 4550/4580 level where my SL will be very small. If price can sustain above 4577 at least for 1 hour then there can be a good upside move as well. I am prepared for both, are you?
INFOEDGE/NAUKRI AT IMPORTANT LEVELHello Traders,
The last stock given here on tradingview did not close above the buying levels so here I am with a stock that is not a breakout trade but a support/resistance trade. The stock I am speaking about is Infoedge.
Now Infoedge gave a breakout of old resistance and went on a bull run for a 2 weeks or so but then failed to made a higher high and came down, now the point where Naukri is right now is the old broken resistance turned into support and it is supporting and resisting the fall for downward levels.
There is also a long-term trendline providing support at the same place making it a confluence circle so we can have a upmove from the same point again.
RSI has room for bulls
MACD crossing to green levels
Last breakout zone turned support
Trendline support present
Buy Above - 5760
Targets mentioned in the chart above
NAUKRI LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
BUY BETWEEN 4075-4090 FOR TARGET OF 4155 OR IF THE PRICE COMES DOWN BUY NEAR 4000.
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
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