HINDUNILVR gave breakout with supporting volume
50% Fibo retracement
Currently in pullback stage
Crossing round level 2400 can initiate good upside move
Keep this in watchlist for upcoming week.
View negates below 2360 on the basis of candle close.
FMCG index went for a long consolidation and has broken the upper end of the range successfully.
10% rally is expected in short term. Individual stocks can move higher. Like, HUL, Marico, Dabur
In spread chart of CNXFMCG/NIFTY 2.45 seems very good support level. It was respected many times before and may be respected this time also. So some bounce back may be expected from that level in whole sector. Some mid cap FMCG name may be looked upon
There's no worse feeling than having the market go up and Still see your portfolio in negative and wondering why my stocks are not recovering ?
Its because FII's, smart investors, LIC and bigger investment groups have churned sectors, rotated money into new sectors. Corona virus brought new opportunities and shut door on some business(which were stars earlier)...
![NIFTY: Science Backed by Data[All Series]: What recovered ?](https://s3.tradingview.com/a/atQCFFxa_mid.png "Science Backed by Data[All Series]: What recovered ?")
