So there is bearish bat pattern in nykaa right now. Investors are selling shares because of valuation concerns and hence the stock has potential downside. Apart from that the trend line also acts as a resistance. Hence would recommend shorting at 2144 and having stop loss at around 2160 if it comes to 2144 and targets of around 1.5 percent of 2144
Comment:
Sorry, keep stop loss near to 2180 and target of around 2071. As an disclaimer i am an long term investor in this stock
Comment:
Okay now abandon this idea, the trade was right except the selling price should have been low. Now it looks like its ready for a breakout.