Shares of Nykaa fell more than 5% today, a day after a stellar listing. should you buy

According to stock market experts, this profit-booking may continue even further and the price of Nykaa’s share may go down further. since 2000 1800 levels. He advised investors to either buy around Start accumulating stocks in the calibrated way from 1900 level or now.

Advising stock market investors to start accumulating Nykaa shares now; Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “Valuations could be a concern for Nykaa shares after the huge listing gains. However, 2000 may act as a support level in the near future. It is difficult to buy after a big profit at the opening, however new investors can deposit in those portions where they can invest 25 per cent at current levels, while there is a correction. They may add more at 1800 level.” Santosh Meena said that those who were playing for listing profit can place a stop loss 1950 and advised aggressive investors to hold this stock for long term.

Lump sum investment strategy in Nykaa shares unveiled; Ravi Singhal, Vice Chairman, GCL Securities said, “This fall in Nykaa shares should be viewed as profit-booking post strong listing and may continue for 1-2 trading sessions. Nykaa shares may go up. 1900 per share level in immediate short term, where one can buy for long term. Nykaa shares can be bought from here 1900 level for two year target Maintaining 3600 Stop Loss 1770 levels.”

Ravi Singhal of GCL Securities said that the fundamentals of the company are very strong and its market capitalization is still around 1 lakh crore after this huge drop in the share price of Nykaa.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.