NESTLE - #MONKNESTLE - Weekly TF
Forming a RISING WEDGE.
Once it breaks down from it, should hit targets marked in YELLOW. But confirmation from #MONK is necessary.
NESTLEIND trade ideas
NESTLEIND Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
NESTLE at Crucial support LevelNSE:NESTLEIND is taking support at 61.8% of the recent move and also forming classic ABC pattern.
View is bullish for the short term.
Nestle might move towards 10945!!!One can buy Nestle India on dips with a SL of 10650 and a target of 10945.
NESTLEIND Tweezer Top Short TradeShort if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
SHORT TERM BUY || NESTLEIND || SL 10550 Buy NestleInd on a dip with SL of 10560 and targets of 10900/10970.
Adjust trading volumes as per entry price.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. Any opinions, news, research, analyses, prices, or other information offered is provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
SELL @11200.00 | Target @11115.00 | SL @11245.00 | IntradayTriangle formation and inside bar with high volume.
Nestle Weak Below 10600 LevelsNestle 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.
NestleIndiaDouble Top, Channel Top, Negative Divergence, Supreme Court and Circuit breaker.
On third Jan 19 'News' was splashed in the mainstream media about the concern of SC about Maggi Noodles having harmful level of lead and the SC lashed out at the govt. On 4.1.19 price hits the Circuit breaker. 'They' made big money. 'They' took big short trades before they spread the news and then made a huge killing. This happened three years back. So for last three years SC did not see any lead content in Maggi Noodles at all and the mainstream media also did not see any!!!
We must have faith in Judiciary and media!!!
BullishSupport is at 10653, resistance at 11378 progressive and target in intermediate term is 14700
3 Drive on Top/RSI Divergence 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 are my personnel view. Please take financial consultancy for trading decision.
Nestle Short ideaTrade plan
Entry - 10180 SL - 10440 T1 - 10000 T2 - 9883 T3 - 9731
Trade Category positional
Account Size - 2000000 INR Max affordable risk per trade 2% = 40000 INR
Risk = 10440-10180= 260 points
Position size/Lot Size = 50
Value at risk = 260 * 50 = 13000 INR
Investment = 1 Lot
T1 Profit = 180*50 = 9000 (Risk:Reward = 1:0.7)
T2 Profit = 297*50 = 14850 (Risk:Reward = 1:1.4)
T3 Profit = 449*50 = 22450 (Risk:Reward = 1:1.73)
