Another brokerage firm, Edelweiss, has also maintained its buy rating on Nykaa but has trimmed its target price to Rs 1,743 from Rs 1,859 earlier, baking in a higher cost of capital and stiff competition as the key risks for the valuations.
Tech View: Nifty forms doji candle; buy-on-dips suggested with 22,780 as key support. How to trade on Thursday
Tech view: Nifty has formed a double bottom pattern and a doji candle near key support levels. The 21-day simple moving average (DSMA) at 23,285