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Unite Technologies Financial

23rd Aug · SEBI-Registered Analyst

Technical Analysis: Understanding Trend Nazara Technologies

The stock

NAZARA
is trading around ₹354 on the daily chart and is showing a strong bullish structure. The stock has formed higher highs and higher lows especially after recovering from the ₹220–230 zone. The recent sharp breakout from the ₹300–310 range indicates strong buying momentum. The short-term and medium-term trend is bullish. Price has broken above the previous major resistance near ₹350–360 and is currently consolidating close to the breakout zone. Holding above this area would keep the bullish structure intact. Immediate support is around ₹345–350. The next important support is ₹325–330 followed by ₹300–310 which was the previous consolidation and breakout zone. The stock is currently near its recent high so ₹360–365 is the immediate resistance zone. A strong daily close above ₹365 with good volume can lead to further upside toward ₹380–390. Fresh buyers should avoid chasing after the sharp upward move and instead watch for a pullback/retest near ₹345–350. A successful hold of this zone can provide a better risk-reward setup. Holders can continue holding while the stock remains above ₹330. A decisive close below ₹330 would weaken the short-term bullish structure.

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