Rakesh Jhunjhunwala Portfolio In the recent stock market sell-off due to the Russo-Ukraine War, positional investors are busy scanning quality selections that are available at discounted prices. There is good news for such investors as the share of Nazra Technologies, which is nearing its 52-week low, has given fresh breakout on the chart pattern. Market experts are of the opinion that Nazra Technologies is into the hospitality and online gaming business. As the Unlocked theme is taking centre-stage, its hospitality business revenue is likely to increase in the coming quarters. He advised the positional investors to include this stock of Rakesh Jhunjhunwala in their portfolio for a target of 3-6 months 2400 each level.
Speaking on this Rakesh Jhunjhunwala Stock; Ravi Singhal, Vice Chairman, GCL Securities, said, “Nazara Technologies is primarily in the hospitality and online gaming business, which has been hit hard during the COVID-19 pandemic. In the current unlock theme, Nazara Technologies will see the growth of both the business segments. Expected to increase further. Its numbers in the coming quarters. It has given fresh breakout at approx. from 1825 1830 level too. Hence, the stock is now showing a bull trend.”
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Sharing key levels with respect to the Nazara Technologies shares; Mudit Goyal, Senior Research Analyst, SMC Global Securities said, “The stock is currently trading. from 1780 1930. Once it manages to break the immediate barrier it may increase further 1930 level.”
Advise positional investors to buy this stock with a time horizon of 3-6 months; Ravi Singhal of GCL Securities said, “The stock has given fresh breakout in round one yesterday. from 1825 1830 level and may give a sharp jump soon. Most importantly, as it is nearing its 52-week low, the stock is available at an attractive valuation. Positional investors should buy this stock at current levels with a target of 3-6 months 2150 more 2400 each level. However, the stop loss must be maintained Levels 1740 per share taking a position in this Rakesh Jhunjhunwala Portfolio stock.”
Rakesh Jhunjhunwala’s stake in Nazra Technologies
As per the shareholding pattern of Nazara Technologies for the period October to December 2021, Rakesh Jhunjhunwala holds 32,94,310 shares or 10.10 per cent stake in the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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