Topic 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:
- The price recently took strong support at the long-term trendline, resulting in a bullish deflection
- The 38.2% Fibonacci retracement level at 1095 also provided crucial support during the recovery
- 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
- 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
Feel free to share your experiences and insights in the comments below. Let’s continue the conversation and grow together as a community of traders and analysts.
By sharing this experience and insights, I hope to contribute to the collective knowledge of our professional community, encouraging a culture of strategic thinking and informed decision-making.
As always, thorough research and risk management are crucial. The dynamic nature of financial markets demands vigilance, agility, and a deep understanding of the tools at your disposal. Here’s to profitable trading and navigating the election season with confidence!
Ready to stay ahead of market trends and make informed investment decisions? Follow our page for more insights and updates on the latest in the financial world!
For a free online stock market training by Yogeshwar Vashishtha (M.Tech IIT) this Saturday from 11 am – 1 pm, please sign up with https://pathfinderstrainings.in/training/freetrainings.aspx
Experience profits with my winning algo strategies – get a free one-month trial with ₹15 lakh capital! – https://terminal.algofinders.com/algo-terminal
Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.