Info Edge – A decline foretold !
Info Edge – Owner of Zomato, Naukri.com, Jeevansathi and others – had a clear bearish structure from our post on 29th Oct 2018.
Price had declined in a clear 5 waves from 1690 to 1314 and rallied in 3 waves to 1620. This is what we said in the post of 29th Oct.
Then : 29 Oct 2018 :
Info Edge Elliott Wave Analysis. As on 29 Oct 2018. CMP 1567
Unfortunately Info Edge is not in the derivatives segment, so shorting is not possible. The structure tho’ is very clear. Clear 5 waves lower from the all time high at 1690 to 1314, and a 3 wave corrective rally to the upside.
At a minimum, price would decline to below 1315.
Now : 12 Nov 2018 :
Info Edge Elliott Wave Analysis. As on 12 Nov 2018. CMP 1394
price is well on track. A larger 5th wave is in place, and the downside risks are substantial. Ultimately larger picture, price should be headed to below **restricted**.