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Investors with a short-term perspective can consider buying the shares of Info Edge (India) Ltd at current levels. The stock has surged over 3 per cent on Wednesday and is up over 7 per cent this week. . It is broadly trading in ₹800-885 band since March and is now heading towards the upper end of this range.
Immediate supports are at ₹857 and ₹850. A rise to test the next resistances at ₹877 and ₹885 looks likely now. Traders with a short-term perspective can go long at current levels. Stop-loss can be placed at ₹850 for the target of ₹883. A strong break above ₹885 will be bullish for a rally to ₹900 and ₹950 thereafter.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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