Nestle has begun upmove

Mar 30, 2021

Nestle has broken the long term downward trend line decisively. It has also broken the neckline which was an important resistance line. This clearly indicates that the stock is poised for upmove from here on. A minor pull back to 17020 presents an entry opportunity with a near-term target of 18000.

May 9, 2021

Trade closed: target reached

After almost reaching the target of 18000, the stock has now started consolidating at lower levels. With no further tailwinds, there is going to be less activity in this scrip. Let us see how the price pattern develops in the next 2 weeks before making the next call.