Stocks to Buy – Nazara Technologies – share up 4.8% on NSE – BUY on dips says analyst, puts target price

Stocks to Buy – Nazara Technologies – The shares of Nazara Technologies Limited were trading with a positive bias on Monday in tandem with the overall domestic stock markets. At 11:42 am on Monday, the shares of Nazara Technologies were trading at Rs 1794.75 on the NSE, up by 4.8 per cent from the last closing price on Friday.

If you are an existing investor in this stock or are planning to make a move in Nazara Tech shares, this is what you must know from the expert. Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking gives some useful insights.

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The Technical Analyst said that Nazara Technology share price is stuck in a range. Investors planning to take fresh position can do that with a positional view on this stock, Jain said. He recommended buying on dips.

The positional term target of this stock according to Jain is Rs 2000, Jain said indicating that there was still an upside of Rs 200 from the existing levels.

Jain said that a pull back in this stock is imminent from the existing levels. For existing ivestors, the strategy is to hold on to this stock to maximise gains.

The Nazara Technologies stocks attained their 52-week high on 30 March 2021at Rs 2024.90 on the NSE. The 52-week low for this stock is 1432 which it hit on 31 March 2021.

Over the last 5 trading sessions, including today, the stock has been gaining and has been trading with positive bias. The stock last witnessed a correction on 20 August – a continuous three-day fall on the NSE.

The Company has also announced its Annual General Meeting (AGM) on 20 September 2021 at 12 pm through video conferencing, the company has informed in its filing to NSE.

On the BSE, the Nazara Technologies stocks were trading at Rs 1788, up by 4.5 per cent from the Friday Closing price.