The log-normal monthly chart of NSE FMCG. The price action broke out of blue parallel channel and since then trading in narrower and steeper yellow parallel channel.
After a big run up, FMCG sector is witnessing profit-booking. There is a trade gap in this Index and price may take support at this level. This index made a strong breakout on 5th July this year. We shall keep a close watch on these two levels and accordingly decide about entering long in the FMCG majors such as Britannia, Colpal, Dabur, HUL, ITC, GodrejCP,...
FMCG was range bound after breaking the previous swing high on Daily.
With Nifty Supporting the Trend and No Signs of Weakness of Daily, Weekly, Monthly Charts.
Every dip in good FMCG Stocks is a good opportunity to go long.
My Favouite Stocks are
NSE:ITC
NSE:HINDUNILVR
NSE:GODREJCP
NSE:DABUR
NOTE: As these stocks have run up too much, do not enter in Full...
In daily, price retraced then reversed from horizontal support,
In weekly, price in an established uptrend, it broke out of ascending triangle pattern and going up.
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