An emf is induced across the open ends of the circuit. The direction of the induced emf can be found using Lenz's law. For conductor CD,C is at positive potential. We shall use lenz's law to find polarity.
When S-role of magnet goes away from coil it induces N-pole at C and S-pole at D so that movement of magnet is prevents.
Creation of N-pole at C induces anti cloclewise current at C or +ve polarity at C. It c and c are foiled lay wire current will flow from C to D through the wire.
North polarity creats anti-clock wise current