Major share of Rakesh Jhunjhunwala's portfolio fell 30%, what should you do?  Know the strategy

Major share of Rakesh Jhunjhunwala’s portfolio fell 30%, what should you do? Know the strategy


Rakesh Jhunjhunwala portfolio: The share of Nazara Technologies, which is part of the portfolio of veteran investor Rakesh Jhunjhunwala, has fallen 36% since January 21, 2022, as on Friday, at 10:50, the stock traded at Rs 1724. Was doing. If we talk about the fall from its highest level, then this stock has come down 48% so far. So, what should you do in this Big Bull holding stock? Should buy it? Should I hold or sell it?

Before knowing what action you should take on Nazara Technologies, you should know its price history. On 30 March 2021, the share of Nazara was listed on the National Stock Exchange (NSE) at a price of Rs 1,990. On the same day it closed at Rs 1,552. After this, till September 15, 2021, this stock kept rotating between 1,980 (upper level) to 1450 (lower level). On September 14, this stock crossed the level of 1,980 and made a high of Rs 3,356 on October 11, 2021 (within about a month).

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What do market experts think
Stock market experts see Nazara Technologies as the key beneficiary of the under-penetrated, high-growth, gaming and allied markets in India. They believe that Nazara will continue to work towards acquisition and enhancement of assets based on our strong relationships, in-house content and technology stack. As a result of this, its network will become effective and the company will make good profits.

Market experts feel that it would be best to buy this stock in the range of ₹ 1500- ₹ 1600. After this, within a year, this stock can give a target of up to ₹ 2100. This will be a great opportunity for a long term investor.

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Opportunity to buy in Support Zone
Speaking on this stock in Rakesh Jhunjhunwala Portfolio, Manoj Dalmiya, Founder and Director, Proficient Equities Private Limited told Live Mint, “Nazara Technologies shares are getting strong support at ₹1527 level, while its Immediate support (support near price) is at ₹1685 per share. Hence, this share can be bought in the support zone.

Commenting on the stock, Ravi Singhal, Vice Chairman, GCL Securities said, “Nazara Technologies shares are expected to form a good buying area in the range of ₹1500 to ₹1600. One should wait for some time, as the stock may remain in consolidation for some time. The Russia-Ukraine war may further affect the global equity markets. Since the company’s presence is in the hospitality and online gaming business, the company can perform well after Kovid-19 in both the areas. We recommend positional investors to buy this stock in Rakesh Jhunjhunwala’s portfolio in the range of ₹1500 to ₹1600 with a one-year target of ₹2100. For this stop loss should be maintained at ₹1400 level.”

Rakesh Jhunjhunwala’s holding
According to the BSE shareholding pattern, India’s big investor Rakesh Jhunjhunwala holds 10.10 percent shares in the company. This data is according to the figures for the quarter ended 31 December 2021.

Tags: Rakesh Jhunjhunwala, Stock tips


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