NESTLEIND trade ideas
Nestle India Ltd.*Nestle India Ltd*
P&F Formation on Monthly Basis
Price BreakOut Needed. To be Watched.
Resistance @23171 / 23405 to be Observed.
Possibility of Retracement to 20644 levels before Bounce Back. Hence, Watch it.
Vol. BuiltUp since Past one month. Further Continuation required.
RSI: 1H =D<W<M
Do Your Own Research as well. This is an Opinion.
Happy Investing 😇
NESTLEIND - Short-term potential upside 6%It appears that NESTLEIND has experienced a recovery near the earlier support level (approximately 21338). Additionally, the RSI is currently between 30 and 40. Price re-visiting the recent high at 23410 would potentially result in an approximate of 7% increase.
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NESTLEINDNSE:NESTLEIND
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
I have no reason to not be bullishNestle has great fundamentals, One of the best. And it is forming a cup and handle pattern. If market remains bullish for next few months, Nestle has nothing to stop from hitting 24k, And even if market sentiments are not in favor still it would achieve the target but a bit late.
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