The daily chart shows Nestle India in a clear bullish trend, with orange wave 3 forming as part of navy blue wave 1. This follows the completion of orange wave 2, signaling the start of a new upward impulse phase—typically the strongest part of an Elliott Wave pattern.

The ongoing wave structure reflects significant buying strength. Positioned within navy blue wave 1, the current momentum suggests strong continuation potential. A key level is identified at 4147; a breach would invalidate the current count, suggesting possible trend reevaluation.

This technical setup highlights a favorable phase for potential gains. The wave count implies the stock is poised for a strong advance. Investors should watch for signs of trend continuation, keeping in mind that a corrective wave will follow this phase.

Nestle India Elliott Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Navy blue wave 1.

Position: Gray wave 1.

Direction next lower degrees: Navy blue wave 2.

Details: Orange wave 4 appears complete; navy blue wave 1 of gray wave 1 is active.

Invalidation level: 4147.

The weekly chart analysis supports a bullish long-term view for Nestle India. The wave pattern shows navy blue wave 1 developing within gray wave 1, after the completion of orange wave 4. This marks the early stage of a larger uptrend.

The impulsive structure reflects solid upward momentum. Institutional buying is likely influencing this advance, with the 4147 level acting as a technical threshold for invalidation.

This structure suggests a long-duration upward trend may be forming, with navy blue wave 1 being just the beginning. The next phase will be navy blue wave 2—a correction that will follow once wave 1 completes.

Traders should track price action for confirmation of this bullish wave while managing risk if the key level is tested. The long-term setup indicates strong potential for continued gains.

Nestle India – NESTLEIND 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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.