28/03/2024
Technical chart of Naukri.com:
Price:
Trend: Upward. The price has been making higher highs and higher lows since late February. There is a breakout above the resistance level at ₹5200.00.
Support and resistance levels:
Resistance: The next potential resistance level could be around ₹5600.00, ₹5800.00 and ₹6000.00. These were previous highs that the price failed to break above.
Support: The previous resistance level at ₹5200.00 could now act as support. There is also potential support around ₹4800.00 and ₹4400.00.
Chart patterns: There is no clear head and shoulders, bull flag, or double bottom pattern on the chart.
Volume:
The volume is high, which can be a sign of either strong buying pressure or strong selling pressure. In this case, with the price increasing, the high volume suggests strong buying pressure.
Technical indicators:
Moving averages (MA): The 20-day, 50-day, and 100-day MAs are all starting to slope upwards, which is a bullish signal. The 200-day MA is flat, but it may start to turn up soon.
Moving Average Convergence Divergence (MACD): The MACD is above the zero line, which is a bullish signal. The MACD is also starting to slope upwards, which indicates that buying pressure is increasing.
Stochastic oscillator: The stochastic oscillator is currently at 75.00, which is in the overbought zone. This suggests that the stock may be due for a pullback in the short term.
RSI: The RSI is not available on the chart you provided.
Company fundamentals:
I couldn't find any recent news events specific to Naukri. However, considering company fundamentals can be helpful. Unfortunately, I don't have enough information to analyze Naukri's specific fundamentals.
Time frame for swing trade:
Based on the chart, a swing trade could be initiated on a short-term time frame, such as a daily or hourly time frame. However, it is important to always have a stop-loss order in place to limit your risk, especially considering the overbought stochastic oscillator reading.
Overall analysis:
The Naukri chart is currently in an uptrend. The high volume, upward sloping moving averages, and bullish MACD all suggest that there is a lot of buying pressure in the stock. However, the stochastic oscillator is indicating that the stock may be overbought in the short term.
Disclaimer: I am not a financial advisor and this is not financial advice. Please do your own research before making any investment decisions.