Nestle - The Breakdown, finally happened, I was waiting for this move from past many sessions.
REfer the previous post (linked here ) for detailed analysis
NESTLE - time to maximize the trade, its the area , i was expecting the stock would test , before falling further.
For Detailed analysis , please refer earlier post, linked in the post.
those who like breakout and falling wedge can take this setup
risk reward ratio also looks good and likely need more volume to push hard
Buy : 16400 - 16500
Stop : 15750
Target : 1700 , 17500 , 18000
Nestle has been trading in a range since April 2020.
In technical terms, this particular range formation is called descending triangle, this patterns generally forms in downtrend and acts as continuation pattern, but in this case the structure of the stock is of uptrend, this bearish pattern may act as reversal pattern, because it indicates distribution , so i...
