Nestle India eyes breakout after stock split boostTopic Statement:
Nestle India’s recent stock split has made the stock more affordable and liquid, as it now approaches key resistance levels with bullish momentum.
Key Points:
1. The price recently took strong support at the long-term trendline, resulting in a bullish deflection
2. The 38.2% Fibonacci retracement level at 1095 also provided crucial support during the recovery
3. The stock is currently attempting a breakout above the 23.6% retracement level at 1207, which could drive it toward its lifetime high at 1389
4. At 1389, the price may form a triple top candlestick pattern, and a successful breakout beyond this level could push the stock to new all-time highs
