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Jul 1, 2020 12 tweets 4 min read
Nestle Weekly Chart CMP 16798.85
.
Line 16539 is a crucial line on which hinges the rise and the fall.
.
The current Weekly Candle comprises of week’s first three daily candles.
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It seems it has support for the last three days on 16539.00.
.
1/n Image
As per Nimblr Candlestick Course, it is hinged on at least three Indecision Candles as marked 1, 2 & 3.
.
2/n Image
How do we go about doing it?
.
Here below.
.
Let us print the unmarked raw Candlestick Chart as below:
.
3/n Image
Let us note the High and Low as apparent on the chart, as below:
.
4/n Image
Let us now move to Line Chart as below
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5/n Image
Here distinctly the wave structure is well clear.
.
There are Tops and Bottoms.
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Let us draw them with values printed.
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6/n Image
A horizontal line on the previous top with value 16539 of the Top as per Line Chart.
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Another Top line is drawn which has a value at 14959
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7/n
Let go back to Candlestick Chart.
.
We are seeing a definite structure of a step by step fall from Top 18369.95.
.
Let us mark those Values and name it as follows
.
8/n Image
Top 18369.95
.
HL 16700.00
.
LH 18022.95
.
LL 16108.65
.
LH 17749.00
.
LL 16052.20
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9/n Image
In which case the previous high is LH 17749.00 has to be crossed. That is its first resistance.
.
Next resistance LH 18022.95.

On The Fall:
.
It can continuously fall as a falling wedge too.
The nearest fall level is LL 16052.20.
.
10/n
Use Fibonacci Extension
.
Targets
100% 20687
162% 22129
.
11/n Image
Fall below LL 16052.20 Target can be the previous Top 14959.
.
If you may observe Line 16539 is a crucial line on which hinges the rise and the fall.
.
Weekly Close on 3Jul20 above 17749 may rise to 20687.
.
12/12 Image

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