NESTLE INDIA LTDLong
Buy Nestle India for Target 26k to 29K - Short term
Updated
The observation is not based on any indicators but a trend pattern and we may see the last leg of rally in Nestle in near term.
The stop Loss is low of the last breakout candle on trend line.
The immediate target is 26K and further target is 29K+. if it sustains above the 26K on monthly chart.
Rationale - Nestle has been consistent with rising price trend in stepwise manner. This is probably last leg rally before it takes some rest. Another thing is the stock is approved for split from shareholders and awaiting the record date.
The stop Loss is low of the last breakout candle on trend line.
The immediate target is 26K and further target is 29K+. if it sustains above the 26K on monthly chart.
Rationale - Nestle has been consistent with rising price trend in stepwise manner. This is probably last leg rally before it takes some rest. Another thing is the stock is approved for split from shareholders and awaiting the record date.
Trade active
Rally started. Please review technicals on your own before entering.Trade closed: target reached
Target 1 reached.Note
29123 very strong resistance on weekly and monthly charts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.