NESTLE; BEST ENTRY PRICE REV 1.

The stupendous Nestle saga continues with the Company having delivered excellent Q3 FY2011-12 (the CY is the FY) numbers a couple of days back, which in turn has prompted me to revisit the Best Entry Price levels that we had set out for this Scrip in an earlier Post (SEE THIS). Readers might peruse the earlier Post and recall that we had set the Best entry Price zone as 3860-4200 roughly corresponding to the 50 SMA amd 200 SMA on the 5-year Price Charts.

Subsequently, the Scrip had traded in our Buy zone for the Period 28/9/2011 to 20/10/2011 wherein it touched an intraday low of 4091 on 20/10/2011. Hopefully the followers of this Blog's ravings and rantings might have used that opportunity to accumulate this Blue-Chip.

However, after taking the above Price Movements and the latest stellar Results into Account , I am inclined to revise the Best Entry Price zone for this Scrip to 4141 -4237 (which roughly corresponds to the 150 SMA and 100 SMA respectively on the 1-year Price Charts) from the erstwhile 3860-4200 zone. It is possible that the said buy zone of 4237-4141 may take some time coming but patience always pays in the end. Look out for bad Market days to pick up the Scrip in the above Price zone for best returns in the long term