It is NESTLE INDIA 5 YR. WEEKLY CHART...
We can see a trend line and support-resistance level here.
there you can see a H&S pattern and also a trend line.
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Now look at 1 yr daily chart...
here FIRST indicator is for NEGATIVE DIVERGENCE.
SECOND is for BEARISH DIVERGENCE.
THIRD is a form of H&S PATTERN.
I don't find any buy opportunity for Nestle india.
LIVE STATUS OF NESTLE...
ReplyDeleteTRADING BELOW THE LAST OPENING...
BSELIVE
02:26 PM | 26 Feb 2013
4602.10
Change:
-39.55 (-0.85%)
Open:
4,635.50
Prv. Close:
4,641.65
NSELIVE
4608.00
Change:-46.55 (-1.00%)
Open:
4,615.40
BSE closing- 4611
ReplyDeleteNSE closing- 4607.6
No chance to go up...
Good opportunity for F&O selling..
The H&S pattern take 4 months for completion.
ReplyDeletetarget to fall from 4600 to 4200 (400 points) can also take 4 months.
It should fall at least 100 points each month.
Dear All,
ReplyDeletePl check my email reg Analysis of Tata Coffee. Rachit has emailed for Yes Bank.
Will read Rachit's analysis.
Tata Coffee – Analysis and Strategy
(Feb 27, 2013)
1) Support / Resistance Horizontal Line:
Value
(Rs) Support/
Resistance Date Average
Volume
131 - 134 Support Dec 12, 2008; 6/9/12 Mar, 2009 900 to 1,300
887 Resistance Mid-Mar, 2012 to Mid-Jun, 2012 Decent large volumes
Break-out and Support Jun 19, 2012 3.7 lakhs
1,351 – 1,449 Trading Band Mid-Nov, 2012 to Jan 1, 2013 34 lakhs to 14 lakhs
1,674 Highest High.
(Black Candle) Jan 3, 2013 10.96 lakhs
PIVOT POINTS/SUPPORT/RESISTANCE
1,484 R1 Based on Feb 26, 2013 (H, L, C). (Plotted as Red Horizontal Lines)
1,469 PP
1,449 S1
1,543 R1 Based on Week of Feb 18/22, 2013 (H, L, C)
1,514 PP
1,480 S1
2) Since Jan 3, 2013 (Black candle), the stock is in a downtrend and the following levels have been broken:
a. 1,543 on Jan 30 (Vol – 90,630)
b. 1,484 on Feb 14, 2013 (Vol – 33,152)
c. 1,469 on Feb 26, 2013 (Vol – 41,903)
3) RSI: The RSI is showing a higher high: On Feb 6 the RSI is 47.6 and on Feb 20, the RSI is 52.5;
Price: The price is making lower lows on Feb 6 at Rs 1506 to Feb 26 at Rs 1456
Bullish Signal
4) Last 5 trading Sessions:
Date Open High Low Close Volume RSI
(14) MACD
(Trigger
Line) +DI (14) - DI (14) ADX (14)
Feb 27 1477 1495 1420 1469
(Pivot Point) 76 K
Feb 26 1482 1490 1457 1463 42 K 38.7 -7.9
(-4.9) 17 23 21
Feb 25 1519.05 1525 1420 1484 1.66 L 43.4 -5.4
(-4.2) 18 24 21
Feb 22 1519.85 1519.95 1501 1507 40 K 49.5 -4.1
(-3.9) 22 13 22
Feb 21 1514.40 1548 1502 1511 1.51 L 50.3 -4.6
(-3.9) 23 13 22
Remark Declining Declining Declining Declining Declining Cross-Over
On Feb 22
DENOTES
Down Trend
5)
MACD Interpretation
MACD value is Negative Bearish signal
MACD is below the trigger line (dotted) Sell signal
MACD is making new lows and
closing price is also making new lows – Trend not reversing
6) Directional Index (+DI/-DI) – Tracks the Trend Direction and
ADX – Measures the strength of the Trend.
(Should also study the Weekly chart)
Daily Chart -DI crossed +DI on Feb 22 Down trend. Hence Sell
7) The price has fallen from the all-time high of Rs 1673 on Jan 3 to Rs 1469 on Feb 27, a decline of 304 points or nearly 20%.
Conclusion:
1) All signals (MACD and +DI/-DI/ADX) are showing bearish trends
2) However the RSI shows a Bullish signal
3) However, we need a price up-trend indication in the next few days.
4) Further, resistance is likely at the R1 (Rs 1,449), failing which at Rs 1,400 and thereafter at Rs 1.351.
Strategy and Action
1) Watch if price is stabilizing in the region of 1449 and 1469 – PIVOT POINT
2) Buy 25 shares with a stop-loss at 2% below the buy price
3) Increase by 10 shares as prices increase keeping stoploss at 2% below the average buy price.