NESTLE INDIA is an interesting chart with following
1. RSI on all time frames above 60
2. Price forming ABCD pattern on weekly chart
3. can be a good buy on dips with Support near 2400 zone and resistance at 2780
4. Price making higher highs for last three days
5. Stock outperforming sectoral index on both 1 week and 3 months
6. Narrowing Bollinger Bands
Caution : Major Call OI at 2600 levels which will act as immediate resistance.
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames above 60
2. Price forming ABCD pattern on weekly chart
3. can be a good buy on dips with Support near 2400 zone and resistance at 2780
4. Price making higher highs for last three days
5. Stock outperforming sectoral index on both 1 week and 3 months
6. Narrowing Bollinger Bands
Caution : Major Call OI at 2600 levels which will act as immediate resistance.
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.