VigneshIyer

Where does the FMCG sector stands technically?

Long
NSE:CNXFMCG   NIFTY FMCG
I just posted a chart on HUL making a descending triangle pattern and will try to link that idea to the sector chart.
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As we can see the CNXFMCG tried to breakout of the previous resistance and failed to do so. With tata consumer rallying recently , HUL could follow the suit and FMCG sector could push out to make new highs in coming days. IF it fails to sustain like the earlier 2 opportunities it would take another week or so to retry to breakout.
Trade active: Progressing as expected. Best case scenario is 38000

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