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Nykaaanalysis

NYKAA - FUNDAMENTAL AND TECHNICAL PICKOn Occassion of Diwali my educational pick basis fundamental and technical will be Nykaa NSE:NYKAA On technical front Price Crosses Moving Average (50-week) After down trend price in consolidation mode making HH and HL Bullish Momentum - Above Short, Medium and Long Term Moving Averages Outperformer - FSN E-Commerce Ventures Nykaa up by 1.32% v/s NIFTY 50 down by -1.34% in last 1 month RSI indicating price strength On fundamental front Company consistently making profits recent earnings show strength Company with low Debt Company able to meet its working capital requirments Growth in Net Profit with increasing Profit Margin (QoQ) Increasing Revenue every quarter for the past 2 quarters Increasing profits every quarter for the past 2 quarters Shareholding pattern Number of FII/FPI investors increased from 227 to 230 in Sep 2023 qtr. Institutional Investors have increased holdings from 21.62% to 24.15% in Sep 2023 qtr. Mutual Funds have increased holdings from 8.50% to 10.62% in Sep 2023 qtr. PLEASE NOTE THAT: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade
NSE:NYKAA
by hardeepssethi
3
NYKAA Stock: Short Selling with Time frameNYKAA Short Selling Recommendation Introduction: This report aims to provide a technical analysis of the NYKAA stock and a recommendation for short selling the stock in the short term, with time frame of 30th Jan 2023. The analysis is based on the latest charts and indicators and is intended for investors and traders who are looking to capitalize on market movements. Background: NYKAA is an Indian e-commerce company that sells beauty and personal care products. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The NYKAA stock has been in a downtrend for the past few months, but recent price action suggests that the stock may be reaching a support level. The stock has been trading around 133.75 levels, and a breakdown below this level could signal a short-term trend reversal. The technical indicators are also pointing to a potential short selling opportunity. The Relative Strength Index (RSI) has been trending lower, and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed below the zero line, suggesting that the trend is losing momentum. Furthermore, price action on the chart shows that the stock has reached a support level and is showing signs of a potential reversal with bearish cand formation. Recommendation: Based on the analysis above, we recommend short selling the NYKAA stock if it breaks down 133.75 levels, with a stop loss of 136.95. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. The target 1 is 130.55 and target 2 is 128.50 with time frame of 30th Jan 2023. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions and always consult a financial advisor before taking any action. Conclusion: In conclusion, the NYKAA stock appears to be reaching a support level, and technical indicators suggest a potential short-term trend reversal. Therefore, short selling the NYKAA stock if it breaks down 133.75 levels with a stop loss of 136.95 and target 1 of 130.55 and target 2 of 128.50 with time frame of 30th Jan 2023 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:NYKAAShort
by EntryandExit