Nazara Technologies Limited (NAZARA) Stock - Complete Technical Analysis - Sep 10, 2024

Nazara Technologies Stock Analysis: Key Support & Resistance Levels for September 2024

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. Nazara Technologies Limited (NAZARA) is currently trading at 963, showing notable movement relative to its 52-week high and low. The stock has experienced substantial gains, trading near the upper end of its recent range but still slightly below its 52-week high.

In terms of support and resistance, the key resistance level is around 1,000 to 1,020, influenced by various moving averages and pivot points. On the support side, critical levels are positioned near 900 to 950, where the stock has historically shown resilience.

Technically, the stock is presenting a mix of signals. The RSI is in the bullish zone, indicating potential upward momentum. The MACD is positive, suggesting that the stock may continue its upward trend. The ADX points to a strong trend, indicating that the current momentum could persist. However, the stochastic indicators suggest the stock may be nearing overbought conditions, which could lead to a potential pullback.

The Commodity Channel Index and Awesome Oscillator both reflect positive momentum, supporting the bullish outlook. Williams Percent Range and Bull Bear Power also align with the upward trend. The ATR indicates heightened volatility, signaling that traders should expect significant price fluctuations.

For traders, watching the resistance levels around 1,000 to 1,020 is crucial for potential breakout opportunities. Conversely, if the stock drops below the support range of 900 to 950, further declines could be anticipated. Overall, NAZARA is showing strong bullish signals but keep an eye on potential overbought conditions and increased volatility.