Nestle India Share Price is a top company in the food processing & packaging industry and a large-cap company on BSE. It was trading at 2422.5 with a paltry gain of 0.81 percent. The intraday price of the stock went between 2421.6 and 2435.
It is a wide range of volatility, as shares of Nestle India had hit rock bottom in the last 52 weeks at 2115 and the highest at 2777. The company registered a negative monthly performance of -1.2%; however, it had a better three-month performance of 8.05%.
Technical Overview
The resistance lines of the stock per day were 2433.52 (R1), 2457.98 (R2), and 2486.97 (R3). The daily pivot of stock is 2404.53. The 2380.07 (S1), 2351.08 (S2), and 2326.62 (S3) are the points where the support lies.
Moving averages can also give some additional clues: the Simple Moving Average (SMA) amount is 2354.72, whereas the Exponential Moving Average (EMA) is a little higher at 2375.87 over 5 days. The SMA is 2380.34 and the EMA is 2375.28 through a period covering more than 10 days. The 50-day SMA and EMA are 2385.72 and 2367.34, respectively, in longer terms. The 100-day SMA is 2305.41, and the EMA is 2341.13; the 200-day SMA and EMA are near to each other at 2326.54 and 2342.87.
Competitor analysis and Sector Performance
The behavior of Nestle India follows a weekly improvement of 3.88 percent against a minor monthly decline of -1.81 percent. The firm realized a 12.02 percent growth in six months but a 4.93 percent fall in one year. It has experienced positive long-term performance, gaining 38.85 percent in comparison to three years and 44.5 percent as compared to five years.
Comparatively, the industry competitor Britannia Industries has a weekly gain of 2.79 percent, a monthly gain of 3.34 percent, and a better three-month secured 17.66 percent gain. Britannia had 6-month and 1-year returns of 19.72 and 5.24 percent, respectively. In the longer term, Britannia did better with a 65.04 percent gain in three years and 65.07 percent in five years.
Outlook
The shares of Nestle India seem to be in a steady position, and according to the technical indicators, a possible support could be found around the present levels. The medium-term growth of the company, which fluctuates in the short term, is evidence of the company’s ability to cope with the competitive environment of the food processing industry. But the investor focus is likely to be split, seeing that Britannia Industries has stronger momentum.