NYKAA : Booked a profit of about 13.82% on the invested capital

16 Nis

Decided to book profit as soon as the price reached the first key inflection level. So closed the position and booked a profit of about 13.82% on the invested capital. I do realise that there is a potential for a 13% move remaining in order for the price to reach the upper trendline of the parallel channel. But considering the overall macro economics, I decided to book profits in the current levels itself and then re-allocate the capital towards much safer opportunities.

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If my perspective changes or if I gather additional fundamental data that influences my views, I will provide updates accordingly.

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Disclaimer: The analysis shared here is for informational purposes only and should not be considered as financial advice. Trading in all markets carries inherent risks, and past performance is not indicative of future results. It's essential to conduct your own research and assess your risk tolerance before making any investment decisions. The views expressed in this analysis are solely mine. It's important to note that I am not a SEBI registered analyst, so the analysis provided does not constitute formal investment advice under SEBI regulations.