TRENDING:

GBP/USD

XAU/USD

Nestle India Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

NESTLEIND Elliott Wave technical analysis

Function: Larger Degree Trend Higher (Intermediate degree, orange).

Mode: Motive.

Structure: Impulse.

Position: Minute Wave ((iii)) Navy.

Details: Minute Wave ((iii)) Navy, progressing within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450 level. Potential target is seen towards 3050.

Invalidation point: 2450.

NESTLE India daily chart technical analysis and potential Elliott Wave counts

NESTLE India daily chart is progressing higher to terminate its fifth wave at multiple degrees as marked here with potential target towards 3050 mark. The stock is subdividing within Minor Wave 5 Grey as Minute Wave ((iii)) poised to push through 2900 zone.

The stock carved a low around 1600 in May 2022, Intermediate Wave (4) Orange. The subsequent rally has subdivided into five Minor Waves 1 through 5, with bulls progressing within the last leg against 2330; Minor Wave 4 low registered on June 04, 2024.

If the above holds well, the stock is now unfolding Minor Wave 5 and is within Minute Wave ((iii)) at the time of writing. Prices should ideally stay above 2600 levels to hold the above impulse.

NESTLEIND Elliott Wave technical analysis

Function: Larger Degree Trend Higher (Intermediate degree, orange).

Mode: Motive.

Structure: Impulse.

Position: Minute Wave ((iii)) Navy.

Details: Minute Wave ((iii)) Navy, progressing within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450 level. Potential target is seen towards 3050. Furthermore, Minuette Waves (i) through (v) Orange, are unfolding to complete Minute Wave ((iii)) Navy towards 2910.

Invalidation point: 2450.

Nestle India four-hour chart technical analysis and potential Elliott Wave counts

NESTLE India 4H chart highlights the sub waves within Minor Wave 4 between 2770 and 2600, a potential zigzag at Minute degree. Further Minute Wave ((ii)) within Minor Wave 5 was a combination. The recent price action suggests Minute Wave ((iii)) progressing higher towards 2900-10 zone against 2450.

Conclusion

NESTLE India is progressing higher towards 3050 levels as Minute Wave ((iii)) Navy unfolds within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2450.

Nestle India Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD flatlines below 1.1800 ahead of Fed Minutes

EUR/USD struggles to find direction and continues to move sideways below 1.1800 for the second consecutive day on Tuesday as markets remain in holiday mood. Later in the American session, the Federal Reserve will publish the minutes of the December policy meeting.

GBP/USD retreats to 1.3500 area following earlier climb

GBP/USD loses its traction and trades flat on the day near 1.3500 after rising to the 1.3530 area early Tuesday. Trading conditions remain thin ahead of the New Year holiday, limiting the pair's volatility. The Fed will publish December meeting minutes in the late American session.

Gold rebounds toward $4,400 following sharp correction

Gold gathers recovery momentum and advances toward $4,400 on Tuesday after losing more than 4% on Monday. Increased margin requirements on gold and silver futures by the Chicago Mercantile Exchange Group, one of the world’s largest trading floors for commodities, prompted widespread profit-taking and portfolio rebalancing.

Tron steadies as Justin Sun invests $18 million in Tron Inc.

Tron (TRX) trades above $0.2800 at press time on Monday, hovering below the 50-day Exponential Moving Average (EMA) at $0.2859.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).