Rakesh Jhunjhunwala portfolio: In the sell-off in the stock market due to Russia-Ukraine war, positional investors are busy scanning quality picks available at discounted prices. There is good news for such investors. Shares of Nazara Technologies are currently near their 52-week low. The stock has also given a fresh breakout on the chart pattern.
Market experts are of the opinion that Nazara Technologies is engaged in the business of hospitality and online gaming. As the unlock theme continues to take center stage, hospitality revenues are expected to increase in the coming quarters. He advised the positional investors to keep this Rakesh Jhunjhunwala stock in their portfolio for a target of 3-6 months. In this, the level of Rs 2400 per share can be seen.
Bull trend is now visible in this tech stock
Commenting on Rakesh Jhunjhunwala stock, Ravi Singhal, GCL Securities said, “Nazara Technologies is primarily into the hospitality and online gaming business. This business has been badly hit during the COVID-19 pandemic. In the current unlocked theme, Nazara Technologies has a lot to offer.” Both the business segments are expected to gain momentum and further increase in numbers in the coming quarters. The stock has also given a fresh breakout around Rs 1825 to Rs 1830 levels. Hence, the stock now appears in a bull trend.
After the appointment of Prabha Narasimhan in COLGATE, know the opinion of the brokerage houses on the stock
Speaking on key levels of Nazara Technologies stock, Mudit Goyal of ASMC Global Securities said, “The stock is currently trading in the range of Rs 1780 to Rs 1930. Once the resistance seen at the level of Rs 1930 is broken, then it will go up. It could be faster.”
Positional Investors Buy Nazara Technologies for 3-6 Months
Ravi Singhal, GCL Securities said, “The stock has given a fresh breakout from Rs 1825 to Rs 1830 levels yesterday. From here it may give a sharp bounce soon. Most importantly, it is hitting its 52-week low. Hence the stock is available at attractive valuation. Positional investors should buy this stock at current levels of Rs 2150 and Rs 2400 in 3-6 months. However, while buying this stock from Rakesh Jhunjhunwala Portfolio Stop loss should be maintained at Rs 1740 level.”
Buzzing Stocks: Wipro, Colgate-Palmolive, Britannia Industries and other stocks in the headlines today
Rakesh Jhunjhunwala’s stake in Nazara Technologies
As per the shareholding pattern of Nazara Technologies for the period October to December 2021, Rakesh Jhunjhunwala holds 32,94,310 shares or 10.10 per cent stake in the company.
Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Money can be transferred from Moneycontrol to anyone. It is never advised to apply here.)
,