Nestle India Surges 10%; Analysts Target ₹1510 Breakout
Overview
Nestle India stock has gained nearly 10% in five weeks, significantly outperforming broader market indices. Technicals show strong bullish momentum, with analysts at Choice Equity Broking initiating a BUY rating. They project a potential 14.3% upside, targeting ₹1,510, supported by robust chart patterns and upward-trending RSI, ahead of its December quarter earnings.
Stocks Mentioned
Nestle India's stock has surged nearly 10% over the past five weeks, a significant outperformance against a declining Nifty 50 and Nifty FMCG index. The company's shares traded higher on Wednesday morning, extending a strong bullish run.
The Fast-Moving Consumer Goods (FMCG) giant has gained approximately 2.5% in January 2026 alone, while the Nifty 50 and Nifty FMCG indices have slipped 1.5% and 5.2%, respectively. This divergence highlights Nestle India's resilience and investor appeal.
Analyst Recommendation
Choice Equity Broking has issued a 'BUY' recommendation. Their report, dated January 13, 2026, points to favorable chart patterns, including a rounding bottom and a sustained uptrend. A decisive breakout above ₹1,311, supported by increasing trading volumes, further bolsters their bullish outlook.
Technical Strength
The stock comfortably trades above key Exponential Moving Averages (50, 100, 200 EMA), signaling strength across timeframes. The weekly Relative Strength Index (RSI) at 65 indicates strong momentum without entering overbought territory.
Upside Potential
Analysts have set a target price of ₹1,510, representing a potential 14.3% upside from current levels. They suggest buying on dips towards ₹1,280, with a crucial support zone identified at ₹1,222.
Nestle India is slated to report its December quarter earnings on January 30, 2026, which could influence future price action.
