Nestle India shares have shown a slight upward trend in today’s trading session, reflecting a modest recovery amid a broader market rally. As of 3 PM today, the stock is trading at ₹2280, marking an increase of 0.83% from its previous closing price. This positive movement is in line with broader market trends, with the Nifty and Sensex indices up by 0.89% and 0.94% respectively.
| Table of Contents |
|---|
| Current Price Movement |
| Trading Range and Volume |
| Technical Analysis |
| Market Sentiment and Forecast |
| Shareholding Composition |
| Conclusion |
| FAQ |
Current Price Movement
As of the latest reports, Nestle India shares are witnessing a price of ₹2280, reflecting a 0.83% increase from the prior session’s close. This upward movement coincides with the general upward trends of the market, with both the Nifty and Sensex showing positive indicators.
Trading Range and Volume
During today’s trading session, shares of Nestle India fluctuated between a low of ₹2257.35 and a high of ₹2319. The trading volume revealed a noteworthy uptick, with activity increasing by 75.38% when compared to the previous trading session. This spike suggests heightened interest from investors looking to capitalize on the current market conditions.
Technical Analysis
From a technical perspective, Nestle India is currently trading below its short-term and long-term simple moving averages (SMA). The current SMA values are as follows:
| SMA Duration | SMA Value |
|---|---|
| 5-day SMA | ₹2310.85 |
| 10-day SMA | ₹2373.35 |
| 20-day SMA | ₹2492.28 |
| 50-day SMA | ₹2530.19 |
| 100-day SMA | ₹2529.34 |
| 300-day SMA | ₹2529.81 |
From a pivot analysis standpoint, key resistance levels have been identified at ₹2279.77, ₹2297.88, and ₹2309.27. On the flip side, the support levels are noted at ₹2250.27, ₹2238.88, and ₹2220.77.
Market Sentiment and Forecast
Despite today’s gains, the overarching sentiment surrounding Nestle India appears cautious, with technical indicators pointing towards a strong downtrend. The current price-to-earnings (P/E) ratio stands at 67.36, while the price-to-book (P/B) ratio is recorded at 55.84. According to market analysts, the one-year forecast suggests a potential upside of 10.09%, with a target price set at ₹2510.00.
Shareholding Composition
In terms of the company’s shareholding structure, it is noteworthy that Nestle India has zero promoter holding. Additionally, there has been a slight increase in mutual fund holding, now at 4.28%, up from 4.05% in the June quarter. Foreign institutional investors (FIIs) hold a stake of 11.94%, indicating continued interest from institutional investors.
Conclusion
In summary, while Nestle India’s stock shows a positive movement today, caution is advised due to the presence of a prevailing downtrend. Investors are encouraged to consider shareholding patterns and future market forecasts when making their investment decisions.
FAQ
Q: What is the current price of Nestle India shares?
A: As of 3 PM today, Nestle India shares are trading at ₹2280.
Q: How does the trading volume of Nestle India compare to previous sessions?
A: The trading volume for Nestle India shares today is 75.38% higher than the previous session, indicating increased investor activity.
Q: What are the key support levels for Nestle India shares?
A: The key support levels are ₹2250.27, ₹2238.88, and ₹2220.77.
