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    • Nov 28, 2023
    • 1 min read

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


NYKAA weekly chart

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.

NYKAA monthly chart


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:


Blogs:

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