FSN E-Commerce Ventures Ltd : NYKAA update

Monday, 30 January, 2023

Update on NYKAA (new support & resistance levels) Stock : NYKAA CMP : 133.85

Current condition:

• The stock is still in a downward trend.

• Important range of (162.5 – 157) has now break on down side ,

• This was an indication that bottom levels is shift down.

• However, stock is gradually approaching its bottom.

• One should avoid entering any long positions while consolidation is still ongoing.

Support levels:

Support-1	116
Support-2	95-63 (bottoms range)

Resistance levels:

Resistance-1	176.6
Resistance-2	192
Resistance-3	201
Resistance-4	237

Conclusion:

For small investor:

• Avoid taking any long positions for investment purposes.

• We will review the stock condition when the trend of the stock changes.

Background Information about NYKAA:

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Introduction:

Nykaa is a leading Indian beauty and lifestyle platform that has revolutionized the way consumers perceive and shop for beauty and wellness products. Founded in 2012 by Falguni Nayar, a former investment banker, Nykaa has emerged as a prominent name in the Indian beauty industry, offering an extensive range of beauty, skincare, haircare, wellness, and personal care products.

Founding and Early Years:

Key Features and Offerings:

Omnichannel Presence and Expansion:

Community Engagement and Content Creation:

Diversification into Wellness:

Technological Advancements and Customer Focus:

Success and Future Prospects: