Nykaa (FSN E-Commerce): Multi-Year Base Breakout Signals Trend Reversal 💄📈

Multi-Signal Technical + Structural Analysis (Weekly Timeframe) Long-Term Structure: After the post-listing euphoria and sharp sell-off, Nykaa spent ~3 years forming a rounded base between ~₹130–₹270. This is classic time correction + de-leveraging, where weak hands exit and stronger, long-term participants accumulate gradually. Elliott Wave Perspective: IPO peak → Wave (1) exhaustion Prolonged decline into 2023 → Complex Wave (2) correction The rounding structure from 2023–2025 resembles a base-building Wave (2)/(4) at a higher degree The decisive breakout above ₹270–275 now signals the start of a fresh impulsive Wave (3), typically the strongest and fastest leg Moving Average Regime Shift (Trend Confirmation): Price is now above 26 / 52 / 225 EMA EMAs have turned upward with bullish crossovers, confirming a structural trend change, not just a dead-cat bounce Volume & Participation: The breakout candle is backed by expanding volume, indicating real participation, not short covering alone. This improves the sustainability of the move. Key Resistance Turned Support: ₹265–275 was a multi-year supply zone A weekly close above this level marks successful supply absorption Any retest towards this zone is likely to act as strong demand support Measured Move / Base Projection: Base depth ≈ ₹140 Breakout above ₹270 projects a medium-term target near ₹410–420, aligning perfectly with the projection shown on the chart.