Nestle has created an inverse Head and shoulders pattern on a weekly chart and given a breakout too, with good volumes. Moreover it is an FMCG giant with healthy financials, making it a relatively safe and stable stock.
Buying near the support zone with stoploss just below it and a target of 26k, this seems to be a good trade setup.
That said, please make sure to...
Buy Nestle India if sustains above 21100 for the marked targets on the chart until 20300 on the downside is intact.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NESTLE INDIA, weekly scale, broke out from a 20-month consolidation to new all-time high. Its Relative Performance to CNX 500 (RS Line) made a 52-week high as well. Momentum indicators, RSI & DMI/ADX are indicting strength in the trend. Looks poised for some good rally ahead.
Only personal analysis. No recommendation.
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Stock Trade Idea levels for 27th April, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan...
NSE:NESTLEIND BSE:NESTLEIND
Time Frame – Weekly
Observations : -
* Trading in rising channel
* Good bounce seen from channel support line.
Resistance – 20600 / 21050 / 21738 / 23950
Support – 18450 - 19250 support zone
DISCLAIMER: NCFM Certified Technical Analyst. I am not SEBI registered analyst. All posts are for educational purposes only. I am not...
1. classic cup and handle on weekly chart
2. cup has 23% and handle has 15% retracement from high, 4600 points and 3170 points depth respectively.
either a buy on dip or wait for breakout and buy on retest.
Nestle has been constantly testing the previous highs but not able to break it. While it do so, it is making lower lows, this would mean that if it falls as per the chart there are high chances that it will retest the 17k area.
Alternatively, this will come up to previous high retest.
Nestle India is near crucial support zone on daily chart. It is good opportunity here for taking a Swing Trade.
Entry
We can go long after close of strong bullish candle near the support zone.
Target
Target 1: Will be the next resistance zone as marked on chart.
Target 2: After target 1 is achieved we can go for 2nd target as marked on chart.
Stoploss
We can...
Nestle looking good for momentum in upside give minimum 21000 in with in one month , momentum is volume support, SL any candle close below current candle
it is turning bearish and we may likely see a period of no return in the counter for the upcoming year or so!
a kind of top-out formation which suggest long to be avoided as an investment.
it can test 15200-14900 in coming months/years
Nestle India stock analysis
strong consolidation and breakout but sharp fall after the break out
so if price now continue to rise again it will represent even stronger buyers
so we can buy above 19050 with stop loss of around 50 rupees and respective targets
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.
#Nestleind is now create the #bearish move and come to down #Suppoort Trendline tested 3 times and last 3 or 4 days make the same #Low and also break the #200 ema and when breakdown this low we have seen the more #panic selling come in the #stock.
