We recommend a buy on the stock of Info Edge (India) from a short-term perspective. It is apparent from the charts of the stock that it has been an intermediate-term uptrend from its January 2012 low at Rs 274. Following a corrective decline the stock took support from its key base level at around Rs 325 between July and September this year. Subsequently, the stock started to trend higher. In mid-September, the stock decisively breached its moving average compression (21, 50 and 200-day moving average) and is hovering well above them. On Friday, the stock jumped 4 per cent accompanied by extraordinary volumes, reinforcing the uptrend. Moreover, with this up move the stock appears to have resumed its intermediate-term uptrend. The daily relative strength index is on the brink of entering the bullish zone from the neutral region and weekly RSI is also likely to enter the bullish zone. The daily price rate of change indicator has entered the positive terrain implying buying interest. Its weekly indicator is already featuring in the positive terrain. We are bullish on the stock from a short-term perspective. We anticipate its rally to prolong and knock our price target of Rs 380 or Rs 390 in the days ahead. Traders with short-term perspective can buy the stock with stop-loss at Rs 365 levels.

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