Mehul Kothari recommends Buy on JM Financial, Nazara Tech; Check Why

According to the technical analyst from Anand Rathi, JM Financial can rally to Rs 78, while Nazara Technologies can gain up to Rs 830.

BUY

JM Financial

Buy Near: Rs 70

Target: Rs 78

Stop Loss: Rs 66

We are witnessing a fresh range breakout in JM Financial and the price action is accompanied with rising volumes. Further, the stock has managed to close above its 200-day moving average. The daily RSI (14) is on the verge of range shift.

Thus, we advise traders to buy the stock near Rs 70 for a target of Rs 78 in the coming sessions.

BUY

Nazara Technologies

Buy Above: Rs 765

Target: Rs 830

Stop Loss: Rs 730

On September 09, 2022, Nazara Technologies underwent a sharp breakout above Rs 730 mark and that was along with heavy volumes. Then after we saw that the stock consolidate near its 200 DEMA.

At this juncture the stock is on the verge of another breakout and the previous larger breakout too is intact. Thus, we advise traders to buy the stock only above Rs 765 for a target of Rs 830 in the coming sessions.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).