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Below is quote on Nykaa is debuting the secondary market by Mr. Santosh Meena, Head of Research, Swastika Investmart Ltd

Nykaa is debuting the secondary market on a strong note on the back of stellar response by the investors and strong fundamentals. It is among the few profitable new edge businesses furthermore it is a high-growth company and into the right business where it may continue to grow in double digits for many years.

We are expecting upside momentum may continue for at least 1-2 days then it may be stabilized for some time because valuation could be a concern after a big listing gain however 2000 level could act as a support level in the near term. It may head towards 2100/2200 levels even after a big opening. Those who were playing for listing gain can keep a stop loss of 1950 while aggressive investors are advised to hold this stock for the long term because it is one of the few stocks in new edge companies to own into your portfolio. It is difficult to buy after a big gain at opening however fresh investors can accumulate in parts where they can buy 25℅ at the opening of what they want to invest into this stock while if it witnesses any correction towards 1800 level then they can add more.

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