PL Technical Research: BUY NYKA - TECHNICAL PICK

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

PL TECHNICAL : - BUY NYKA 141.90 STOPLOSS 130 TARGET 175 – TECHNICAL PICK

NYKA has corrected from the peak of 425 and has made a higher bottom formation pattern, taking support near 130 levels, and has picked up momentum to improve the bias, with the RSI also indicating a trend reversal and on the rise to anticipate further upward movement in the coming days. We suggest buying and accumulating the stock for an upside positional target of 175 while keeping the stop loss near 130.