Key risks: 1) Impact due to increased competition/ slowdown in US markets, and 2) inability to identify and integrate acquisitions,” said the brokerage. Our target multiple stands at 38x 1-yr forward EV/EBITDA (ex-minority). “We maintain our BUY rating on Nazara, with target price of Rs 1,080. ICICI Securities has maintained its buy call on the stock. As per the Flag and Pole formation, the target is Rs 1070." Looking at the indicators, MACD is all set to give a positive crossover while a reading of 33.83 in ADX indicates the presence of a strong uptrend. In today's trade as well it has given a breakout from another continuation pattern known as Bullish Flag and Pole Formation. Nazara Technologies stock is trading higher than the 5 day, 20 day, 100 day and 200 day moving averages.Īditya Gaggar Director of Progressive Shares said," In August, the stock had given a breakout from the Cup and Handle formation despite being in the primary downtrend. The stock has a beta of 0.2, indicating very low volatility in a year. In terms of technicals, the relative strength index (RSI) of Nazara Technologies stock stands at 50.8, signaling it's neither trading in the overbought nor in the oversold zone. Total 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 87.70 crore on BSE in the previous session. It has climbed 31% this year and risen 35.51% in the last one year. Earlier, the stock opened higher at Rs 804.95 on BSE.
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