Nazara Technologies Limited (NAZARA) Stock - Complete Technical Analysis - Nov 14, 2024

Nazara Technologies Stock Technical Analysis - Key Support & Resistance Levels Explained NAZARA S

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. In this technical analysis of Nazara Technologies Limited (NAZARA), the stock is currently trading at 912, which is 18.35% below its 52-week high and 54.19% above its 52-week low. Looking at the daily chart, the stock is showing moderate volatility with sudden price drops and surges. For example, on Nov 14, the stock opened at 879 and surged to a high of 925, closing at 912.05, reflecting an intraday range that traders should monitor for potential breakout or breakdown.

Resistance levels are identified at 925 and 913, with the stock facing difficulty in breaking above these points. On the downside, support has been seen at 877, and a break below this could lead to further downside movement. The stock's long-term trend remains bullish, as indicated by its position above the 200-day moving average (currently at 864). However, the stock is struggling below the 50-day EMA (928), which suggests short-term weakness.

For momentum, the MACD remains negative, indicating a bearish trend in the short term, while the RSI at 47 shows no extreme oversold conditions. The ADX is at 21.95, signaling a moderate trend, and the Stochastic RSI is neutral. Traders should watch for breakouts above 925 or breakdowns below 877 to get a clearer directional move. The stocks volatility, as indicated by the Average True Range (ATR), suggests that price swings could be significant in either direction.