Price & Volume relation:
Monthly: Previous candle low (19050) was taken out clearly but the Volume is not supporting yet & taking hault @important support level.
Weekly: Price & Volume both supporting movement.
Daily: Both supporting.
Yellow line Symmeterrice triangle (Sideways until...
Nestle India has been consolidating in a flag and pole pattern. The stock has taken support from its 20 DMA and respected the levels convincingly
The stock on the hourly time frame has been trading around its 20 ema.
Stock on the monthly basis has never closed above 19750.
If the stock breaks out or breaks down a nice movement can be achieved.
Wait for the...
📈 Nestle 📉
My Findings :-
1. Breakout from resistance zone.
2. Close Above March 2022 High.
Target- 18880, 19934 and 20464
RR- 1: 3
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor...
Currently the stock is discounted at 16% from all time high levels.
1. Rising Channel Breakdown
2. Rejection from 5 Days Exponential Moving Average
3. Negative Crossover of 5, 13 Weeks Exponential Moving Average
4. Gave a closing below 100 Days Exponential Moving Average
5. Next Support is coming around 16,300
6. RSI below 40 (which is again a...
📈 Nestle 📉
Nestle was taking support at Upward Parallel Channel since October 2020 and today it broke down. Break off this Definitely shows signs of trouble in stock.
On The upside in sync with downtrending trendline and started forming lower highs and lower lows.
My View : Look for shorting opportunities as it broke the upward trendline and started...
EXPLANATION : This is a 1 hour time frame chart of NESTLEIND . It has formed Head & Shoulder pattern // Triple Top pattern , If give a strong breakout and broke its demand zone with high volumes and retest the same , I am bearish on NESTLEIND . If taking support from demand zone trade with multiple confirmations .
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NESTLEIND is on support level. If this support is broken by it then it will start downward movement and if it will reverse and move above previous high then will try to move upward direction.
Entry and target level on...
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.
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.