Got clarity since my initial idea (linked below) on January 12, 2024 .
The alternative view presented there played out.
For now price seems to be in wave 1 of larger degree wave 3.
Break above red wave 1 high @ 195.50 and thereafter an impulsive break of the base channel will give more confidence to this idea.
Shall update the idea as price develops...
NSE:NYKAA has given breakout to 158 consolidated Resistance level.
We can see long term move above 156 with SL of 150 and can average till 155.
Major targets levels are highlighted in blue lines.
As per my analysis on NSE:NYKAA chart, if any 45min close and sustained above level of 122, then we can make buy entry at 122-125 with stop loss of 113 (Daily candle close).
My expected upside target would be 137 & 175 (If price succeed to sustained above 137)
Note: This is my personal analysis, only to learn stock market behavior. Thanks.
Nykaa
1. Lower High lower Low Structure
2. This week broke previous support @ 162.50 levels
3. Trading in Un-charted territory
4. Further support can be derived with the help of Fibonacci.
5. Plotted Fibonacci Extension connecting swing high of 428.95 and 315.45 and swing low of 203.15.
6. Fibonacci giving us the next support @ 89.65, which is 38% below the...
As the party begins in the nifty index,
Nykaa is also making up to dance in the party!
The only uncertainty is whether events like the Fed meeting, US GDP data, and earnings will ruin the party.
Nykaa is one of India's leading specialty beauty and personal care companies and also forayed into the fashion segment, which is now a significant part of the Nykaa business.
It has acquired 6.6 million new customers this year .
Nykaa is working on faster delivery of packages to the customers by opening new regional warehouses, making investments in rolling out...
Nykaa, the High Growth listed at whopping Gain of approx 86% yesterday.
Managed to close in green as well and upside momentum may continue for a few trading as well.
Those who played for listing gain and got lucky at the allotment, may book some profit or trail some with a stop loss below 2000 levels.
Currently, it is difficult to take fresh positions in the...
