📈 Pattern Analysis: Nykaa recently completed a "Cup-with-Handle Breakout", which is a strong bullish continuation pattern. However, the breakout targets have not yet been achieved. In the past few sessions, the stock has witnessed selling pressure, forming a double-top bearish pattern on the chart.
📊 Key Levels & Structure: The price is currently in a corrective phase and may move lower to retest the breakout zone of the cup-with-handle pattern. This zone is expected to act as a strong support level and could provide a fresh opportunity for accumulation if the structure holds.
🔎 Momentum Indicators:
A successful retest of the breakout zone could resume the uptrend with upside targets around ₹ .... levels in the medium term. Failure to hold the support could, however, lead to extended consolidation.
⚠️ Disclaimer:
This is a technical projection, not an investment recommendation. Traders should manage risk carefully and align strategies with their financial objectives.
📊 Key Levels & Structure: The price is currently in a corrective phase and may move lower to retest the breakout zone of the cup-with-handle pattern. This zone is expected to act as a strong support level and could provide a fresh opportunity for accumulation if the structure holds.
🔎 Momentum Indicators:
- RSI has cooled off from overbought levels, creating room for the next leg of upside.
- Volumes during the recent dip are lower compared to the breakout volumes, suggesting the decline is corrective rather than a trend reversal.
A successful retest of the breakout zone could resume the uptrend with upside targets around ₹ .... levels in the medium term. Failure to hold the support could, however, lead to extended consolidation.
⚠️ Disclaimer:
This is a technical projection, not an investment recommendation. Traders should manage risk carefully and align strategies with their financial objectives.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.