Elliott Wave Analysis of Nestle India
Nestle India has been one of those steady performers in the long run. However, the long-term investor needs to take note of a potential diagonal triangle in the fifth wave position. As explained in my book Five waves to Financial Freedom, a diagonal triangle at the fifth wave is a powerful signal. Now you should be aware that we are still in the process of making this formation, or in other words, that formation is only in my head. If we do get the final ‘e’ wave in Nestle India, that will travel quite a distance, and the investor will have lots of time to figure out where to exit the stock. What we dont want to see now is a close below 4340. Will someone please remind me in a few months where Nestle India has been between now and then!