The counter's 14-day relative strength file (RSI) came at 20.36. Oversold is defined as a level below 30, while overbought is defined as a level above 70. The price-to-equity (P/E) ratio of the company's stock is 429.83.
Portions of FSN Online Business Adventures, Nykaa's parent, fell 5.11 percent in Monday's exchange to hit their new one-year low. The stock today slipped to a 52-week low of Rs 120.75 over its past close of Rs 127.25. The scrip has been consistently falling to new lows, especially as a result of bulk deals involving large pre-IPO investors who sold their stakes after mandatory lock-in expired. Nykaa has decreased by 57.42 percent annually.
Today's BSE volume of approximately 11.08 million shares was higher than Nykaa's two-week average of 9.03 million shares. The company had a turnover of Rs 13.60 crore and a market capitalization (m-cap) of Rs 35,189.75 crore.
There were 2,87,600 sell orders on BSE, against purchase requests of 2,65,721 offers. Investigators generally proposed that the counter looked 'oversold'.
Nothing new should be purchased. "AK Prabhakar, Head of Capital, IDBI Capital," advised, "Hold on to it if you've previously bought it (Nykaa stock), but stay away from fresh buying."
"Nykaa has been making lower high and lower low structures since the previous year, which has caused the stock price to drop 71%. The aforementioned stock is currently trading below all DEMAs (12-26-50-100-200). At outrageous levels, it is exchanging close to its critical help zone of Rs 120-125. Avoid making impulsive purchases and allow the counter to establish a solid foundation of around Rs 125-130. Wait and see right now," Jigar S. Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, stated.
"Nykaa proceeded with its descending twisting and a day-to-day close underneath Rs 123 could set off a further fall till Rs 107 level, notwithstanding the stock cost being oversold. "The strong resistance level will be Rs 133," according to Tips2trades' AR Ramachandran.
The counter's 14-day relative strength file (RSI) came at 20.36. Oversold is defined as a level below 30, while overbought is defined as a level above 70. The organization's stock has a cost-to-value (P/E) proportion of 429.83.
The stock was most recently seen exchanging lower than 5-day, 20-, 50-, 100-and 200-day moving midpoints. Nykaa has a typical objective cost of Rs 145, Trendline information showed, proposing an expected potential gain of 17.41 percent. The stock has a beta of 0.98 over the past year, which indicates average volatility.
In a preview note, Kotak Institutional Equities stated that Nykaa may report revenue growth of 39% year-over-year in the December quarter. According to a note from the brokerage, the growth could be driven by flagship sales, the holiday season, and continued growth in beauty and personal care (35% YoY) and fashion business (27% YoY).
Nykaa's growth in the December quarter, according to JM Financial, will also be driven by holiday demand, penetration in new channels, and newer initiatives (eB2B superstore).
The target price for Nykaa has been lowered by ICICI Securities from Rs 175 to Rs 145. Despite intense selling pressure and global headwinds, new-age internet businesses have significantly corrected.
In the meantime, late-morning deals saw a sharp rise in Indian equity benchmarks, led by gains in banks, financials, and automobile stocks.
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