NYKAA – Technical Outlook

Nykaa continues to exhibit a positive long-term trend, trading above its 50-DMA, 100-DMA, and 200-DMA, reflecting sustained bullish sentiment. After a sharp recovery from lower levels, the stock has entered a consolidation phase between ₹250 and ₹280, indicating healthy profit booking rather than a reversal of trend. The stock recently found support near ₹250–255 and has rebounded towards the upper end of its trading range. Price action around ₹268 suggests buyers remain active, while the ability to hold above key moving averages keeps the overall structure constructive. Momentum indicators are neutral-to-positive, with RSI hovering around the 50 mark and MACD consolidating near the zero line, hinting at the possibility of a fresh directional move. Key Levels Resistance 1: ₹272 Resistance 2: ₹285 Upside Target Above ₹285: ₹300–305 Support 1: ₹260 Support 2: ₹250–255 Outlook The stock remains favorably placed as long as it sustains above ₹250. A decisive move above ₹272 could strengthen bullish momentum and open the door for a retest of ₹285. A breakout above ₹285 would signal the resumption of the broader uptrend, with potential upside towards ₹300–305 in the coming weeks. On the downside, a breach of ₹260 may trigger short-term weakness, though the medium-term trend would remain intact unless the stock slips below ₹245. View: Positive with a breakout watch above ₹272–285; buy-on-dips strategy remains favorable while ₹250 holds. $NYKAA