nestle

Nestle will reverse from Weekly Trendline. Targets are shown in the chart.

Buy Current--12065-- level or buy on dip

positional setup in nestle and as i written BEYOND technical analysis that truly means its not only about technical analysis and has certain fundamental things logically taken into consideration ! educational purpose only

Time to be cautious and look for the next opportunity NestleInd fromed triple top on the weekly time frame. first major support 10092.40, 2sec 9084.40, 3rd 8001.34.

One can buy Nestle India on dips with a SL of 10650 and a target of 10945.

Nestle has formed strong bearish pattern on weekly chart which is sign of sellers are gaining control of trend. If Nestle breaks the 10600 levels then it can reach to 10000-9800 levels which 200 EMA support.

The stock has formed a 3 Drive on Top reversal pattern at the 78.6 fib level of last swing. RSI is not supporting the 3rd top and showing divergence. It has came back to Bollinger Band so it seems to be a good short trading is possible here. One can shot below the 10890 with small SL of recent made high and expect the target of 10500/10100. Disclaimer : All ideas...