Shares of Nazara Technologies surged 18.97% in three trading sessions from its recent closing low of Rs 645.80 on 7 September 2022.

On the BSE, 3.72 lakh shares were traded in the counter so far compared with average daily volumes of 97,957 shares in the past two weeks. The stock hit a high of Rs 789 and a low of Rs 742 so far during the day.

The stock hit a 52-week high of Rs 1,677.2 on 11 October 2021. The stock hit a 52-week low of Rs 484 on 22 June 2022.

The stock had outperformed the market over the past one month, jumped 19.47% compared with 1.32% rise in the Sensex.

The scrip had also outperformed the market in past three months, rising 36.85% as against Sensex's 14% rise.

However, the counter had underperformed the market in past one year, down 20.09% as against Sensex's 3.56% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 75.050. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day and 100-day simple moving average (SMA) placed at 628.33 and 631.02 respectively. These levels will act as crucial support zones in near term.

Nazara Technologies is a leading India-based, diversified gaming & sports media platform with presence in India and across emerging & developed global markets such as Africa and North America. It has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin, PublishMe and Sportskeeda in eSports and eSports media, OpenPlay, Halaplay and Qunami in skill-based, fantasy and trivia games, and Datawrkz in digital ad-tech.

Nazara Technologies' consolidated net profit rose 22.2% to Rs 16.50 crore on 70% jump in net sales to Rs 223.10 crore in Q1 FY23 over Q1 FY22.