NESTLEIND - Watch out for a good breakdown/ shorting opportunity in 1D timeframe.

A few points to note:


1. There is a weekly reversal sign (bearish - Evening star pattern)
2. The stock is below 50DMA
3. Ascending wedge pattern - Usually is a bearish sign.
4. Overall on a higher timeframe, the stock is rallying - hence it is wise to be cautious and have a hedge.
bearishmomentumChart PatternsEvening StarTechnical IndicatorsnestleindiapriceactionsellsignalshortsetupswingtradingTrend Analysis

Also on:

Disclaimer