NAZARA - Cup and Handle breakout - Wkly

Name - NAZARA
Pattern - Cup and Handle breakout
Timeframe - Daily and Weekly
Volume - Very Good
Cmp - 1049
Can test - 1390
SL - 989

Cup and Handle pattern, which is a bullish continuation pattern indicating a potential upward trend. Here are some key points from the chart:

Cup and Handle Pattern: This pattern suggests that after a period of consolidation (the “cup”), there is a slight dip (the “handle”) before a potential breakout to higher prices.
Neckline: The neckline is marked at 989. This is a critical resistance level. Price breaks above this level, it has confirm the pattern and lead to further gains.
Target Price: The potential target price is around 1390 if the pattern completes successfully.
Volume: There is a significant increase in trading volume, highlighted by a large green bar. This often indicates strong buying interest and can support the bullish breakout.
Overall, the chart suggests a positive outlook if the price breaks above the neckline with strong volume support.
Price in range from 475 to 989 for 2.6 yr, Friday price closed abv that.

Nazara Technologies reported its Q1 FY24 results, showcasing a strong performance. Here are the key highlights:

Revenue: ₹250 crores, a slight dip from ₹254.4 crores in the same quarter last year1.
Net Profit: ₹23.6 crores, marking a 12.9% increase from ₹20.9 crores in the previous year2.
EBITDA: ₹24.9 crores, a 24.7% decrease year-on-year2.
The growth in net profit was driven by a strong performance in the esports vertical, despite lower profits in the gaming segment and losses in adtech2.
Cup And HandlecupandhandlepatternNAZARAnazaratech

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