Nestle India – Retest Before the Final Push Higher

Nestle India appears to be unfolding a clean five-wave impulsive structure. After a powerful Wave 3 rally backed by strong volume expansion, the stock has entered a typical mid-trend pause — a falling wedge consolidation representing Wave 4.

The correction has so far retraced near the 0.382 Fibonacci level around ₹1,247, perfectly aligning with the prior breakout zone from Wave 1 highs. This overlap suggests that the current dip is more of a healthy retest than a trend reversal.

As long as the price action holds above ₹1,238.20, the bullish structure remains valid. A breakout above ₹1,311 — the Wave 3 high — would likely trigger Wave 5, opening room for upside continuation toward the ₹1,340–₹1,360 zone.

Both the 100-day and 200-day SMAs are sloping upward, reinforcing the medium-term bullish bias. Meanwhile, RSI remains steady in the 60 range, showing no signs of exhaustion — exactly what you want to see before a possible Wave 5 extension.

In short: the setup is healthy, confluence is strong, and risk is clearly defined. A decisive move above ₹1,311 could mark the start of Nestle’s next leg higher.

Invalidation: Below ₹1,238.20
Bias: Bullish continuation (Wave 5)
Timeframe: Daily

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.