FSN E-Commerce Ventures Limited (NYKAA) Stock - Complete Technical Analysis - Sep 17, 2024

Nykaa Stock Analysis: Support & Resistance Levels Technical Insights for Traders

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. FSN E-Commerce Ventures Limited, also known as Nykaa, is trading at approximately 199. The stock is currently trading below its 52-week high, indicating a correction from peak levels, but still significantly above its 52-week low. Technical indicators show a bearish bias, with the MACD suggesting weakening momentum and the Awesome Oscillator reflecting a slight positive shift. The RSI is in the lower range, signaling potential oversold conditions, while the Stochastic RSI is extremely low, pointing to potential for a reversal or bounce.

Key support for Nykaa appears to be around the current trading price of 199, with additional support near 194. Resistance levels are likely around 206, which could be tested as the stock recovers, with further resistance near 212. Given the stock's position relative to its moving averages, traders should be cautious and monitor for any significant price movement or reversal signals around these key levels.