nestle india is making a flag pattern (falling wedge)
we can enter in this after this breakout
second thing is this stock is in uptrend on higher timeframe keep watch and buy it buy putting a stoploss and by managing your risk reward.
Hii guys this is Trader Kanishk
In this video i have told you about the trade confirmation in NESTLEIND
Follow all the steps described in the video
then go for a long positional trade.
currently bearish , looks weak ahead , can form low higher pattern from here
Currently add some valuable stock in the watchlist for the long term , wait for the reversal then invest. Avoid fresh buying.
15 min chart makes a nice triangle after a long run.
Volume inside triangle seems to be dried up and breakout of triangle is possible with good volume support.
BUY if the price moves above resistance.
Target - ideally length of flagpole but be cautious as flag is too long
Stoploss - triangle top
First time since 4th Dec, the price is about to close above EMA. Stiff Support is being faced at the psychological 14000 level. The trendline has been broken with a retest. Plus, we see a Triple Bottom. Entered long at 14200 with SL at 14000. Can look for big targets as higher Time frames are bullish
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.
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...
