In yesterday’s trading session, Nifty witnessed a heavy sell-off for the second consecutive trading session due to fears of 2nd wave of COVID-19. However, the index recovered a bit in the 2nd half of the session.
We expect intraday range could be 14,682-15,129 with sideways momentum while broader range could be 14,522 to 15,317.
Nifty Intraday Outlook
In Friday’s trading session, Bank Nifty lost 0.88%, with PSU Banks gaining 0.16% and Private Banks losing 1.08%.
We expect intraday range could be 34,629 to 35,633 with sideways momentum & broader range could be expected between 34,144 to 36,187 zone for this week.
Incorporated in 1999, Nazara Technologies Ltd. is a leading India based gaming & sports media platform with presence in India & across emerging & developed global markets such as Africa & North America.
Leadership position in a diversified and scalable business.
Portfolio of premium intellectual property & content across regions & businesses.
Large community of users, with attractive monetization opportunities.
Successful inorganic growth through strategic acquisitions.
Profitable platform model with limited regulatory risk.
Strong leadership team backed by marquee investors
The company reported a net loss in the FY 20 and 6M FY 21, with positive EBITDA. As Indian gaming industry is increasing at a faster pace, we expect better performance of the company in long run.