I can see a good channel breakout in the Nestleind stock on a daily timeframe. Retest also completed. That's why this stock looks excellent for the swing trade. This stock was consolidating in a channel for almost more than 500 days. And now it gave a breakout. Let's see. How it will perform.
NESTLEIND broke out from its year long resistance on the Daily chart and has successfully pulled back and the bullish action has resumed. Odds are in favor of the stock moving further upward toward the 6.854 Fib zone of 22850.
Beautifull Potential trades for my followers :)
This is just one view now U have them make good use of setups also some learning points and some good Risk to reward setups have fun and good trading day :)
Note: This is for educational purpose only. Please do not trade in F&O.
There seems to be an ascending triangle formation with small build up near resistance. RSI above 60 indicates bullish momentum.
SL: ₹ 17300
It looks life NESTLE is about to breakout and thus push to higher levels. Consider a long position keeping the following levels in mind:
LONG ABOVE: 18290
STOP LOSS: 18130
TARGET 1: 18450
TARGET 2: 18610
DAILY SWING CALL // Wednesday 28th of July 2021 // NSE:NESTLEIND
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 18000
TARGET: 20700+ (15% Around)
TECHNICAL ANALYSIS OF NSE:NESTLEIND
The LAST CLOSE PRICE of NSE:NESTLEIND is 17506.7 . The PARABOLIC SAR is showing the DOWNWARD SIGNAL with TREND as DOWN TREND . The FIBONACCI LEVELS analysis shows that the CLOSEST FIBONACCI LEVELS is 0.382 at the FIBONACCI STOCK PRICE LEVEL of 17563.5. From here, the Key Support and Resistance levels are SUPPORT 1 at...