Nestle India shows a Ascending triangle formation.
This stock had previously bounced off with good volumes from the constant upward rising demand zone and it has done the same from the same zone on Tuesday's trading session.
24000 is a good support area for the stock and the reversal point of 23883 is an important low to be considered if the current uptrend is to be held.
On the upside the 24500 zone is the resistance level that is keeping the stock from reaching the 25000 mark. If the stock surpasses 24500 then 25000 should be a smooth ride.
CMP 24040
SL 23850
Target 25000
24000 is a good support area for the stock and the reversal point of 23883 is an important low to be considered if the current uptrend is to be held.
On the upside the 24500 zone is the resistance level that is keeping the stock from reaching the 25000 mark. If the stock surpasses 24500 then 25000 should be a smooth ride.
CMP 24040
SL 23850
Target 25000
Comment:
another vol. spike today and again from the same upward running demand zone
Trade closed: target reached