Nykaa share price falls below issue price; experts recommend a strict no in this meter
Shares of FSN E-Commerce Ventures Limited or Nykaa today fell below their issue price of Rs 1125. stock reaches November 26, 2021.
Shares of Nykaa closed today at Rs 1,110 on the NSE and fell Rs 33.90, almost 3%.
At least two technical analysts have advised investors to stay away from the stock.
Market expert Simi Bhaumik told Zee Business Web that long-term investors may be waiting to exit at more opportune levels. The current chart pattern is showing weakness and the stock could drop further, she added.
Investors who bought this stock with a short-term view may consider getting out of this stock, she added. As for investors considering taking new positions, his advice is a strict “no”.
Meanwhile, Nilesh Jain Assistant Vice President – Lead Derivative and Technical Research at Centrum Broking said the stock did not inspire much confidence. He advised against making new purchases.
(Disclaimer: Opinions/suggestions/advice expressed here in this article are investment experts only. Zee Business suggests its readers consult their investment advisors before making any financial decisions.)