breakout the ipo
🎮 **Nazara Technologies Ltd (NSE)** – 🚀 *On the Verge of a Big Move?* 🚀
### 🏛️ **Chart Breakdown:**
1. **The IPO High Resistance 📊:**
Nazara Technologies’ **IPO high** was marked around **₹1,049**, a level it initially struggled to break past. After a rollercoaster ride, the stock is now retesting this crucial resistance.
2. **Cup & Handle Pattern 🏆:**
As discussed before, the **Cup** formed from **2022 to 2023**, creating a solid base for the stock.
After that, we saw the **Handle** shape up around **₹880** to **₹950** in mid-2024. This bullish structure signaled potential strength.
3. **Zoom in on the Final Consolidation Zone 🔍:**
The **highlighted consolidation zone** (the box on the chart) represents the final resting phase before a **breakout**.
This area spans from **₹997 to ₹1,049**, right at the previous **IPO high**.
**Why is this consolidation important?**
It shows that **buyers and sellers are in a tight battle** after the stock approached its previous high.
**Lower volatility in this range** indicates that the stock is **preparing for a decisive move** — either a breakout above ₹1,049 or a pullback.
The stock is **coiling up** for its next move, much like a spring that’s waiting to release energy. ⚡
4. **Volume Surge Confirmation 💥:**
The volume in the last few weeks is rising, particularly the **week of September 2024** where we see a **significant spike** in buying activity. This is a strong bullish signal, as it suggests the market is ready to push the stock higher with significant force. 📊💪
### 🎯 **What to Watch Next:**
Breakout Watch 📈:**
If the stock can close **decisively above ₹1,049**, this consolidation would serve as the launchpad for the next rally. 📊
Short-term **target** could be around **₹1,250-₹1,350** if the breakout is successful. 🚀
**Support Levels (In Case of Pullback) 🔑:**
If the breakout fails, look for the stock to retest **₹997**, the **bottom of the consolidation box**, which will act as immediate support.
**Price Range**: ₹997 - ₹1,049
**Action**: A **break above ₹1,049** on strong volume could trigger a new rally!
**Risk Management**: Keep an eye on ₹997 as the **key support**.
⚠️ *Disclaimer*: This is **NOT a buy or sell recommendation**. Educational purposes only. Always do your own research! 📚💡
Nazaratech
Nazara has a 'nazar' on old highs and may aim to create new onesNazara Technologies Ltd. is the leading Indian diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America. It offers interactive gaming, eSports and gamified early learning ecosystems. Nazara Technologies CMP is 813.60.
The Negative aspects of the company are High Valuation (P.E. = 99.4), Declining cash from operations, MFs are decreasing stake, Promoter Holding decreasing. The positive aspects of the company are No debt, zero promoter pledge, FIIs are increasing stake, Improving annual net profit.
Entry can be taken after closing above 828. Targets in the stock will be 865 and 900. The long-term target in the stock will be 929. Stop loss in the stock should be maintained at Closing below 751.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NAZARA - Bullish viewNazara Technologies Ltd - NAZARA
Sector: IT - Software
Industry: Computers - Software - Medium / Small
Price: 2440.65
Market Capitalization: 7959 Cr
52 week High/Low: 3356 / 1412
Stock P/E: 277
Debt/Equity: 0.24
Net profit June quarter: 5.3 Cr
Net profit September quarter: 10.1 Cr
Net profit April 2020-March 2021: 9.23 Cr
Net profit April 2021-Till date: 29 Cr
Resistance: 2484-2526-2601
Support: 2366-2292-2249
Buy above 2436 for a Target of 3356 with a stop of 2151
Long Term investment view
Nazara techWhenever candle forms small body continuously for few days is a sign need to study a chart specially share like Nazara, 3,8 Nov was seen candle with comparatively high volume then recent few days, currently below ema50, anytime takes support of ema50 and ema20 and breaks level of 2414 can seek a quick 1st target of 2520-2630.
NAZARA TECHNOLOGIES INSIDE BAR TRADEafter ipo launch nazara technologies is also consoldiating in tight range in weekly time frame
first candle of weekly time frame is acting as a support and resistance. currently we can see a clear breakout on a charts time for go long in this share
upcoming targets 2400, 4000
sl 1350