The outlook for Info Edge (India) is bullish. The stock is getting good support around ₹5,000. The price action on the weekly chart over the last couple of weeks indicates the presence of strong buyers around the psychological level of ₹5,000. Above this, there is a cluster of moving average supports in the ₹5,200-5,180 region. We expect the share price to remain above this support zone in the coming days.
Info Edge (India) share price can rise to ₹5,600 over the next few weeks. Traders can go long now at ₹5,305. Accumulate on dips at ₹5,220. Keep the stop-loss at ₹5,090 initially. Trail the stop-loss up to ₹5,340 as soon as the price goes up to ₹5,390. Move the stop-loss further up to ₹5,440 when the price touches ₹5,520. Exit the long positions at ₹5,580.
Today’s Stock Recommendation: 22 March 2024
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)