NESTLEIND trade ideas
Nestle-short swing Nestle breaking out of downward trendline and can move towards 19580-600 levels and if sustained can move toward 20200 levels. This is hourly chart so should be only a small swing trade.
Short swing trade with SL of 19000.
Caution-Market is in downtrend so please see market situation before taking any action.
NESLTE INDIA CHART ANALYSISNestle India form Descending chart pattern where it has gave us nice BreakDown with little Retrecemnt in previous Session.
Now after breaking Previous day low if 1hour Candle get sustain in Below Level we can see further lower levels in NESLTE INDIA
KEEP AN EYE ON IT….!!!!!
Nestle India: Pennant PatternNSE:NESTLEIND is showing a symmetrical triangle (Pennant) pattern.
Here for 29th December'2022 expiry, we can device a safer (chilar) strategy :)
BUY 21000 Call
BUY 19500 Put
SELL 20750 Call
SELL 19500 Put
Margin needed: 65K
Profit: 1200 (chilar profit, but much safe)
Safe below: 20778 (which is well above resistance and Fib 78.6% level.
Also last two days Long Unwinding is saw in this counter.
So mostly rangebound to downside movement in this week.
Trade in Option & Book 50%Head & Shoulder Pattern in NESTLE INDIA
Book profits within the first 30 minutes of the market opening
After long bullish trends, the price rises to a peak and subsequently declines to form a trough.
The price rises again to form a second high substantially above the initial peak and declines again.
The price rises a third time, but only to the first peak level, before declining again.
The neckline, drawn at the two troughs or peaks (inverse).
- Try to exit by taking 4-5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
Now, why do I prefer swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 3-4 days and the rest of the time they either consolidate or fall
SELL CMP- 20132
Target Price 18800
Note:- I am not SEBI Registered This Trade is only educational Purpose
NESTLEIND | Symmetrical Triangle Chart Pattern Breakout• NESTLEIND had given Symmetrical Triangle Chart Pattern Breakout which can show continuation of up-trend.
• with the Harmonic Chart Pattern we can derive next upside target .
• Entry:- upside 20734.85
downside 20150.05
• Upside Resistances can become our targets above 20734.85
Targets :- 21050 , 21359.15
• Downside Supports can become our targets below 20150.05
Targets :- 19941.20 , 19708. 40