NYKAA(FSN E-Commerce) A PIC. PERFECT DARVAS BOXES BREAKOUT
Updated
FSN E-Commerce Ventures Ltd. is an interesting chart with following
1. RSI on daily and weekly above 60
2. Price consolidating in picture perfect "DARVAS BOXES" on weekly chart
3. It consolidated in first box from jan-2023 to nov 2023 and
4. Then consolidated in second box from Nov-23 to July 2023
5. Made Breakout from Second Box with high volume
6. ABCD pattern under formation on weekly chart
7. Narrowing Bollinger Bands on weekly chart
Fundamentally Working capital cycle of company has improved from 81 days to 56-57 days
Can be a good risk reward option with buy on dips and dips only with support near 175-182 zone
Lets see How it evolves from here further
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on daily and weekly above 60
2. Price consolidating in picture perfect "DARVAS BOXES" on weekly chart
3. It consolidated in first box from jan-2023 to nov 2023 and
4. Then consolidated in second box from Nov-23 to July 2023
5. Made Breakout from Second Box with high volume
6. ABCD pattern under formation on weekly chart
7. Narrowing Bollinger Bands on weekly chart
Fundamentally Working capital cycle of company has improved from 81 days to 56-57 days
Can be a good risk reward option with buy on dips and dips only with support near 175-182 zone
Lets see How it evolves from here further
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Trade active
CAUTION : STOCK IS EXTREMELY EXPENSIVE IN TERMS OF MARKET VALUE TO BOOK VALUE AND PE RATIO
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