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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:
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:
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