Key highlights:
- Nykaa is still about 40% down from the ATH
- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- Nearest flip zone: 1535-1570
- Higher flip level: 1907
- All-Time low (Untested): 1309
Disclaimer : This is NOT investment...
NYKAA
FSN E-Commerce Ventures Limited is engaged in the business of manufacturing, selling and distribution of beauty, wellness, fitness, personal care, health care, skin care, hair care products, fashion garments, fashion accessories and equipment
Low probability of default in next 12 months
PE Ratio 1061.05
Sector PE 58.17
Stock is 3.69x as volatile as...
well when it was at 1800 i draw a trendline and it touchd 1380 now from here also charts are very much broken, i wish i go wrong on this. but this is what it looks like until the trend is not broken this s a sell on rise
NSE:NYKAA Almost reached the major S/R zone.
Near to 0.618 Fib levels.
Currently market is showing down momentum due to fear in the global markets.
So trade carefully.
Nykaa on a hourly timeframe formed an Inverted Head and shoulder pattern, given a breakout and then taking support on Neckline of Head and shoulder pattern. One can see a long position...
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
