Short

Nestle ready to correct???

Updated

With the markets being volatile, Nestle broke its support only to retest the zone. We may see a continuation of the downfall. What are your views????

Note

2 Consecutive Dojis with long lower wicks! looks like buyers are coming in.

Note

As we said, the buyers were coming in. Now it is important to see if it goes back into the zone or if we see a retest and continuation.

Note

Interesting price action here. The market is in the retest and continuation mood. A close below those two Doji Lows i.e 18,758 may trigger a further down move.

Note

Okay, we have reached the support zone which was also our expected target. We will now have to see further price action to make up our mind

Trade closed: target reached

March 2: The target was reached as mentioned in the previous comment :)

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