19Dec

Nestle India Stock Analysis with Elliott Wave Technical Patterns, Corrective Waves, Resistance Levels, and Chart Insights

NESTLE INDIA Elliott Wave Analysis - TradingLounge (1D Chart)

NESTLEIND Elliott Wave Technical Analysis

Function: Counter Trend (Minute Degree, Navy)

Mode: Corrective

Structure: Potential impulse within larger degree corrective wave

Position: Minute Wave ((i)) Navy

Details:

  • Minute Wave ((ii)) is advancing towards the 2500 levels, indicating a temporary upward movement before the prices potentially reverse lower.
  • Alternatively, the structure might represent an expanded flat, signaling the termination of Minor Wave 4 within the broader degree uptrend.

Invalidation Point: 2785

NESTLE INDIA Daily Chart Technical Analysis and Elliott Wave Counts:

The daily chart for NESTLE INDIA highlights the likelihood of a double top near 2785, as the stock experienced a significant reversal near 2185. This movement could either represent:

  • An initial impulsive decline marking the onset of a larger corrective wave.
  • Or, part of an expanded flat, concluding Minor Wave 4.

Regardless of the scenario, the price action suggests a rally to 2450, signaling the conclusion of Minute Wave ((ii)) before another downward move. The 2785 resistance remains pivotal, allowing bears to maintain control.

NESTLE-India-1D-Stoc...


NESTLE INDIA – NESTLEIND Elliott Wave Technical Analysis (4H Chart)

TradingLounge NESTLEIND (4H Chart) Technical Analysis

Function: Counter Trend (Minute Degree, Navy)

Mode: Corrective

Structure: Potential impulse within larger degree corrective wave

Position: Minute Wave ((i)) Navy

Details:

  • Minute Wave ((ii)) appears to be progressing towards 2500 levels, hinting at a corrective upward movement before the anticipated downward continuation.
  • Alternatively, this movement could represent an expanded flat that terminates Minor Wave 4 within the broader degree uptrend.

Invalidation Point: 2785

NESTLE INDIA 4H Chart Technical Analysis and Elliott Wave Counts:

The 4H chart reveals sub-waves following the termination of Minor Wave 4 around 2325.

  • Wave 5’s rally lacks a clear subdivision as an impulse, but the high-probability wave count suggests termination near 2782, indicating a potential double top.
  • The subsequent decline through 2215 appears impulsive and is labeled as Minute Wave ((i)).
  • Currently, an expanded flat Wave ((ii)) seems to be forming within the 2440-2450 zone before the prices resume their downward trend.
  • Alternatively, the entire decline from 2785 could represent a corrective expanded flat concluding Minor Wave 4 (Grey) around 2185.

Technical Analyst: Harsh Japee

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: TATA STEEL Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

NESTLE-India-4h-Stoc...


Conclusion:

NESTLE INDIA is advancing within Minute Wave ((ii)), targeting the 2440-2450 zone, and remains within the framework of a larger downward impulsive wave. The 2785 resistance is crucial for maintaining bearish momentum.

Related

NFLX Elliott Wave Analysis: Minor Wave 1 Top Confirmed, Bears Gaining Momentum 6 February 24

NFLX Elliott Wave Analysis: Minor Wave 1 Top Confirmed, Bears Gaining Momentum 6 February 24

Elliott Wave analysis delves into Netflix Inc.'s (NFLX) current market dynamics dated 6 February...

Read More >
The Coca-Cola Company (KO) Stocks Elliott Wave Technical Analysis to make Decisions based on the latest Market Structure

The Coca-Cola Company (KO) Stocks Elliott Wave Technical Analysis to make Decisions based on the latest Market Structure

Discover a detailed Elliott Wave analysis for Coca-Cola (KO) stock, providing insights into potentia...

Read More >
Understanding these trends and corrections: Soybean Elliott Wave Technical Analysis

Understanding these trends and corrections: Soybean Elliott Wave Technical Analysis

The Elliott wave Technical analysis of Soybean suggests a corrective bounce within the broader conte...

Read More >
Bullish Momentum in NIKKEI 225: Elliott Wave Technical Analysis and Key Trading Levels

Bullish Momentum in NIKKEI 225: Elliott Wave Technical Analysis and Key Trading Levels

The NIKKEI 225 index is experiencing a bullish trend, supported by impulsive Elliott Wave patterns. ...

Read More >
Gain Insights into Stock Market Trends and Analysis: RUSSELL 2000 Indices Elliott Wave Technical Analysis

Gain Insights into Stock Market Trends and Analysis: RUSSELL 2000 Indices Elliott Wave Technical Analysis

Dive into our comprehensive guide on Elliott Wave Analysis and the Russell 2000 Index. Understand th...

Read More >
Vanguard Australian Shares: V300AEQ ETF UNITS – VAS Stock Analysis & VAS Elliott Wave Technical Forecast

Vanguard Australian Shares: V300AEQ ETF UNITS – VAS Stock Analysis & VAS Elliott Wave Technical Forecast

This article provides an in-depth Elliott Wave analysis of ASX: V300AEQ ETF UNITS - VAS, highlightin...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on