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Is the bottom near for Nykaa shares? Here's what charts say

Shares of Nykaa have managed to hold ground above its all-time low despite multiple bouts of selling pressure from pre-IPO investors, thus raising hope for the bulls at the counter

Nykaa, beauty care products
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The Nykaa application for online purchases | Bloomberg

Avdhut Bagkar Mumbai
FSN E-Commerce Ventures, the parent company of Nykaa, has been in the limelight amid negative news flow. On Tuesday, private equity fund Lighthouse India offloaded stake in the company via block deals for the third time this month. Later in the day, the company informed exchanges that its chief financial officer (CFO) had resigned.

Arvind Agarwal, the CFO at Nykaa, tendered his resignation seeking new opportunities in the digital economy and start-up space, according to the filing with exchanges. His exit may cause more anxiety at the counter as it comes at a time when the stock is witnessing heavy

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First Published: Nov 23 2022 | 12:17 PM IST

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