Thread :

Today I suggested Naukri on on @CNBC_Awaaz and hit upper circuit.

So why did I recommend Naukri (InfoEdge) ?

Analysis

1) Trend :

It was trading at all time high which indicates strong bullish trend

#trading #stocks

2) Strength of Trend:

The red candle formed on 21st dec (circled) was immediately rejected the next day.

This indicates the strength of bulls.

3) Sign of a leader :

I like to buy stocks which have already doubled from 52 week low and hit a new high every 6 months.

Naukri was around 1600 in March 20 and is almost 3 x and satisifies the critera

4) Sectoral Strength

If you look at IT sector. All stocks are hitting all time highs.
This indicates sectoral outperformance and same rub off effect can be seen on Naukri (InfoEdge) stock

5) Other data point :

Due to lockdown Zomato & Policybazar (subsidaries of InfoEdge) have seen great demand.

For a fact :

Zomato processed 4100 order per minute(highest ever) on this new year eve.

So that’s how analyse every stock.

Hope the thread helps.

Happy Learning !