So induced current always flows in a direction that oppose the motion of the magnet.This is Lenz's law.
This is not possible (law of conservation of energy). If in case the induced current promotes the motion of the magnet, it stars moving at a faster rate and the electric energy(induced) and kinetic energy(of the magnet) starts increasing, without any work done. The work done in moving the magnet towards the coil is converted into electrical energy, which gets dissipated into heat energy.The current flows in a direction to oppose the motion of the magnet. The direction of the induced current is found from Lenz' law as follows. Now we know that as the magnet moves through the coil magnetic flux linked with the coil changes inducing a current. If the magnet is withdrawn from the coil upper end acquires south polarity, so work is done against the force of attraction.
Upper end of the coil acquires north polarity, hence work is done against the force of repulsion to move the magnet. Consider that the magnet's north pole moves towards the coil.
