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Just Dial, Info Edge, IndiaMart: Trading strategies for buzzing stocks

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Shares of Just Dial continued at their northward journey, ralling 14 per cent to Rs 574 on the BSE on Tuesday, on the back of heavy volumes. The stock traded higher for the fourth straight day, surging 40 per cent during the period. The counter added another 3.1 per cent on Wednesday to hit Rs 616 levels.

In the past 18 trading days (since September 25), Just Dial has zoomed 70 per cent after its promoter & director, Anita Mani acquired more than 1 per cent stake in the company through open market. CHECK DETAILS HERE

Likewise, InfoEdge (India) and IndiaMart InterMESH have been gaining steady ground at the bourses. Here are the key levels you need to keep a tab on for these stocks.

Just Dial Limited (JUSTDIAL): With a decisive close above the 200-days moving average (DMA), this counter has moved up sharply towards Rs 600 levels. Now, the counter needs to hold Rs 610 firmly for the next leg of upside. If that happens, the stock can move towards Rs 650 and then Rs 670 levels in the days ahead. The stock is reflecting strength in overbought condition of Relative Strength Index (RSI), implying a bullish sentiment. CLICK HERE FOR THE CHART

 

Info Edge (India) Limited (NAUKRI):  A “Golden Cross” formation in June 2020 resulted in a price surge of over 25 per cent during the month. This move has seen a strong support of 50-DMA that acted as as a buying zone for traders and investors alike, as per the daily chart. The current 50-DMA is placed at Rs 3,425 levels, which is a strong support level for this counter. The trend will remain positive positive till the counter defends the 50-DMA decisively. That said, the stocks looks ot be heading in the direction of Rs 3,800 levels in the sessions ahead. CLICK HERE FOR THE CHART

 

Indiamart Intermesh Limited (INDIAMART): After a sharp run in September 2020 that saw the stock double, this counter has started witnessing profit booking above Rs 5,200 levels now. The overall trend will remain bullish till the support of Rs 4,500 levels is held securely. Unless the stock absorbs the selling / profit booking, the price may not any further upside. Once can see a bearish divergence on RSI, which hints at a minor correction from these levels in the days ahead. CLICK HERE FOR THE CHART



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