NYKAA getting good volumes and breaking out of a decent base. Good to keep an eye out for, this stock has corrected a lot since IPO and could try to reach a certain level. Do consider overhead supply on these kind of scrips, a lot of retailers are caught in this since IPO.
On 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...
Take entry at 145
Next average at 123
short term target 161
6 months target 203Rs
This counter is in the uptrend from 114 level and due to block deals this trend should be continue.
Too much corrected from its high. So just enter in it
"Agar Chahiye aapko trading me Zaika to aaj hi le lo NYkaa."
In the Weekly Chart of NYKAA ,
we can see that, it is same range since 7 weeks.
Now it has made a decision making candle.
Enter on breaking its High with Low as SL.
Breaked the resistance today 17-11-2023. You can hold for the target of 180 in next 2 weeks.
This idea is for the educational purpose only. Take a trade on your own risk.
Nykaa has changed its trend from bearish to bullish on weekly time frame(mid-term). It is continuously sustaining above all its key moving averages. I am buying it in the range of 165-175. The targets are mentioned in the chart. Stop Loss is Rs. 150 on weekly closing basis. Mutual funds have increased their stake too in this counter.
NYKAA - Broadening Triangle Pattern (A Symbol of High Volatility)
It is a result of Several False Breakouts, trapping both Bulls and Bears, I will talk more at some later stage in detail, for time being try to see This triangular pattern, forming HH HL and also trapping people on both sides.
📊 Details
FSN E-commerce Ventures Ltd. (FSNEV) popularly known as "Nykaa" is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care, and fashion products, including owned brand products manufactured by it.
Disclaimer: This analysis is...
NSE: NYKAA is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on...
The stock has broken out📈 of 11 months long consolidation or Wyckoff accumulation phase as Wyckoffians calls it. There are many signs of strength which signify a potential change in trend from downtrend to an Uptrend.
⚡We all are familiar with what is called a down trend📉. A downtrend simply means lower lows and lower highs in the price structure. In this chart...
Range Breakout is seen on the Weekly Chart. The stock has a possible upside of 189, 236, 273 in the long term. View invalidate below 138 Weekly closing basis.
Disclaimer: I am not a SEBI registered analyst. All the stocks are for educational purposes. Investors must consult a financial advisor prior to making any investment.
![NYKAA: NYKAA BO [Weekly]](https://s3.tradingview.com/o/OBkhRTlK_mid.png "NYKAA BO [Weekly]")
