NESTLE INDIA LTDLong
Nestle - Expecting a reversal from Demand Zone!
➡️ Price Analysis & Overview:
1️⃣ Price has been respecting the channel.
2️⃣ The price has now reached a strong demand zone, increasing the likelihood of a reversal.
3️⃣ Risk-reward ratio looks promising, but stronger moves can be anticipated only above ₹2500, provided the stock holds higher levels.
4️⃣ The FMCG sector overall seems primed for a reversal, adding strength to this setup.
✨ My Plan:
1️⃣ An aggressive entry can be considered at the CMP.
2️⃣ Conservative traders may wait for confirmation above ₹2500 for momentum trades.
3️⃣ SL 5%
4️⃣ TP at 10% and TP2 at 20%, depending on price action.
⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️
💬 Drop your thoughts below in the comments section if you liked this analysis!✌️
🔥Happy trading!⚡
1️⃣ Price has been respecting the channel.
2️⃣ The price has now reached a strong demand zone, increasing the likelihood of a reversal.
3️⃣ Risk-reward ratio looks promising, but stronger moves can be anticipated only above ₹2500, provided the stock holds higher levels.
4️⃣ The FMCG sector overall seems primed for a reversal, adding strength to this setup.
✨ My Plan:
1️⃣ An aggressive entry can be considered at the CMP.
2️⃣ Conservative traders may wait for confirmation above ₹2500 for momentum trades.
3️⃣ SL 5%
4️⃣ TP at 10% and TP2 at 20%, depending on price action.
⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️
💬 Drop your thoughts below in the comments section if you liked this analysis!✌️
🔥Happy trading!⚡
Anubrata Ray ⚡
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