Nifty FMCG index is clearly showing signs of reversal.
Unable to cross Aug 18 highs till now, clearly HUL, Britannia, Nestle and Dabur all are showing neutral to bearish signs on charts except ITC which is clearly performing inversely to HUL.
Too much money has chased growths in the safest sector and now might be the time to book profits at almost highs and move...
NIFTYFMCG is coming down from the resistance level and has breached it's trading-channel & 50DAY EMA in Hourly Charts.
RSI is in a downtrend.
***TRADINGEDGE HOURLY TIME-TREND INDICATOR IS BEARISH***
Nearby support is 100DAY EMA and 200DAY EMA on the hourly chart.
KEEP AN EYE!!