SWING IDEA - NAZARA TECHNOLOGIES

13 Jan

Nazara Technologies has captured our attention as a prospective candidate for a swing trade, showcasing compelling technicals that hint at the potential for an upward rally.

Reasons are stated below :

• Nazara Technologies has undergone multiple tests around the 900 levels and successfully broken through, signaling a notable shift in market dynamics.
  
• A noteworthy bullish marubozu candle observed on the weekly timeframe adds a robust bullish sentiment, laying the foundation for a potential upward rally.
  
• The surge in volume activity is a noteworthy signal, suggesting heightened market interest and potential momentum behind Nazara Technologies.
  
• Trading above the 50 exponential moving average (EMA) signifies a continued upward trend, providing confidence in the stock's potential for a swing trade.
  
• Nazara Technologies consistently forms higher highs, indicating a sustained uptrend and reflecting positive sentiment among market participants.
  

Target - 1244 // 1676
StopLoss - weekly close below 837

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