bhagat109

Nestle resumed it's downtrend after a pullback

Short
NSE:NESTLEIND   NESTLE INDIA
Nestle is on a downtrend.
It broke below the 200 DMA with strong volumes. It has pulled back right till the 200 DMA where it was met with resistance.
And now we've 3 strong red candles successively (three black crow candlestick pattern suggestive of bearishness)
And the resistance can be seen right at the trendline that I've drawn.
Tgt: 15200
SL: use trailing stoploss just above the next candle.
Trade active: Should reach the target by next 2-3 trading days.
till then SL should be trailed.
Trade closed manually: Trailing SL was hit on 16 Oct.

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