The long-term and short-term trend for Info Edge (India) (₹5,365.1) remains positive. The stock finds an immediate support at ₹5,152 and the next one at ₹4,928. As long as the stock stays above ₹4,155, the long-term outlook will remain positive. The immediate resistance for the stock is at ₹5,592 and if the current trend sustains, Info Edge has the potential to touch new high above ₹6,150.
F&O pointers: The counter on Friday witnessed a long build-up along with price rise. As the counter was hovering around ₹5,000, open interests also witnessed a volatile pattern. On Thursday and Friday, Info Edge July futures saw a fresh accumulation of open positions, signalling bullishness.
Follow-up: Traders are advised to book profits in Apollo Hospitals.
Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading.