🟢1W charts indicate capitulation & volume explosion near 122
🟢NYKAA taken support 130. About to enter stage two uptrend.
🟢It has given buy signal at 146.05 on VSA Momentum indicator.
🟢Will buy more on decline @130. SL=445 on week closing basis.
Nykaa Cmp 168 dated 17-11-2023
Positional View:
1. Rectangle BO @ 170
2. Price Rise with Volume Rise
3. RSI BO
Buy above 170 target 180-190-200-210-225 SL 140
It is just a view, please trade at your own risk.
Stock Name - FSN E-Commerce Ventures Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 170
#This is not Buy and Sell recommendation to any one. This is for...
Hello Traders & Investor,
Better day's has come for Nykaa, Earlier stock was in highly downtrend it was making lower lows and lower highs pattern but now there is no more lower lows on chart and it has given a wedge pattern breakout in yesterday session. Now this stock is ready to fly in blue sky. This is definitely giving a best enty for short term as well as...
#NYKAA - The stock has broken out from its Stage 1 base and is entering Stage 2. Additionally, the stock's relative strength is showing improvement, now in the green. Keep an eye on this one!
After pretty expensive IPO listing and fall of almost 3x since listing this seems to be a turnaround in ecommerce company with strong volume candle on daily charts and weekly closing above immediate resistance.Good R:R at current levels
Greetings Folks,
today I have prepared a setup of NYKAA on NSE
the analysis is as follows-
- the price was in a constant downtrend from the start
- it formed consecutive 4 equal highs in span of 260 days
- price today broke out of this static resistance, can hope for a reversal
- price was making minor higher lows
- the elliot correction wave ABC also adds to our...
- Textbook example of Disappointment Lifecycle IPO Pattern (From the book: The Lifecycle Pattern)
- Accumulation after long time since IPO listing on Weekly Chart
- VCP type pattern formation
- MACD Positive
#NYKAA has been in accumulation phase that has lasted for 9 months. Despite multiple failed breakout attempts, there was a subsequent pullback and flush maintaining above the trendline, followed by a week of contraction and then another breakout before earnings.
These all suggest strong bullishness along with positive results, Positive EMA crossover & RSI above...
After an year Nykaa is trading above its Important Moving averages in weekly TF ie.(11)! buy above 153 and keep sl at 142 and target should be 1:3. HAPPY TRADING(:
