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⭐ Ultra Equity Advice #98 | Buy | Profit 4-5% | Arijit Banerjee

  Buy    NESTLE INDIA  

CMP#14,486.8
IdeaBUY
Buy Range14,155 – 14,367
Target15,000 – 15,200
StopLoss*13,980
Duration12 – 15 Trading Sessions
Potential Return^4 – 5%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
14,486.8BUY14,155 – 14,367 15,000 – 15,20013,98012 – 15 Trading Sessions4 – 5%

# CMP – closing market price on Nov 25, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 14,743.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Nestle India, a subsidiary of Nestle Switzerland manufactures and sells milk and nutrition products e.g. condensed milk, yoghurt, dairy whitener, infant formula, baby food etc. The company also offers prepared dishes and cooking aids e.g. noodles, pasta, cereals, sauce, powdered and liquid beverages e.g. coffee and tea, and varieties of confectionary items e.g. chocolates, sugar confectionery products etc. Incorporated its first factory in 1961 at Punjab, Nestle India posts 33.47% jumps in net profit at Rs 595.41 crore in Q2FY20; revenue up 9.49%

Stock Data
NSE CodeNESTLEIND
Sectoral IndexNifty FMCG
52W High15,146.90
52W Low10,031.65
Face Value10
Relative Performance_Nestle India vs Nifty FMCG Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • On the weekly chart, the stock has been trading with it’s upward rising trend line since last August and it seems that it could continue with its ongoing move.
  • We expect the stock to remain in a rising trajectory and extend the up move towards 15,000 in the coming months.
  • The turnaround of the price structure after last four weeks price correction presents a fresh buying opportunity in the stock.
Nestle India Weekly Chart
Nestle India Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • The stock has formed well defined Triangle Pattern over the last 2 months and a breakout above the upper side shows further bullishness.
  • Stochastic crossing above oversold zone (20) indicate buying momentum and probable further rise.
Nestle India Daily Chart
Nestle India Daily Chart

CONCLUSION - NESTLE INDIA SHARE PRICE FORECAST

Based on our positional trading advice of stocks, Nestle India share price target will be 15,000 – 15,200 in the next few days.

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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