NYKAA - Pennant Pattern

FSN E Commerce (NYKAA):

Monthly Trend: Cannot be ascertained, too little data.
Weekly Trend: Downtrend, current consolidation starting from 09 May, 2022 may lead to either a downtrend or an uptrend.

• CASE 1: If it falls further, it will be a continuation of the previously established downtrend with the current consolidation acting as a secondary trend.
  
• CASE 2: If it breakout, there is a possibility that it will consolidate upwards. 1850 - 80 will act as a major resistance in this scenario.
  

Daily Trend: In the daily timeframe, NYKAA is trading within a pennant. Either a breakout or a breakdown from this may lead to scenario discussed in the weekly trend part.