Recently if we observe closely, FMCG Sector is outperforming & helping index to move higher and higher, where it contribute nearly 8% of Nifty 50.
In which ITC is having the highest weightage in the FMCG sector (nearly 30%) followed by HUL (24%), Nestle (7%) and Tata consumer (6%) respectively.
Adding to this VBL is outperforming like anything, compare to...
Nifty FMCG index nearing life time high.
Even though it makes a new life high.
It will run into its major hurdle @ 42296.80 .
Only 2-3 consecutive daily close above this level of 42296.80 we can see a fresh breakout.
Daily Time Frame
Inverted Head & Shoulder Pattern found
3rd June candle taking support @ Trendline
Condition applied :
If market breaks 37985
market will fall at least till 37332 & if that breaks then it will go below & retest Trendline for sure.
Niftyfmcg going to break most trusted pattern H&S….as it break it will go to the all time high level target….here target also calculated as per H&S breakout n it’s gv exactly target to the previous all time high level….one can go “CE” of jun or July month for HUl , Tata consumer, Godrejcp…..for long position trade….best of luck one can also go for Hero or zero in OTM….
Using #BTST (Buy today, Sell tomorrow) trades, you can avoid sudden market selling like today.
- When you take BTST trades, you usually ride the momentum and are only in the market for a few minutes.
- For example, I typically buy stocks at 3:25 p.m. and sell them the following morning at 9:15 a.m., so technically I am only in the markets for 5-10 minutes...
Index corrected 20% from top.
Strong support on lower level's.
Clear sign's of bottom formation and breakout is evident.
Falling Channel breakout and consolidation near breakout zone is giving strong confirmation.
MACD and Rsi too supportive.
Pullback's is excellent entry point's here on.
Head and Shoulder .....
382000 -1st Target,
40004.55 -2nd target.....
Using this sector analysis ,we can predict our FMCG Stocks targets............
If you like the idea, please like and encourage me............
Keep track of important support levels for this INDEX
Its treated as a safe sector for investment during bear phases or crashes in the market.
Disclaimer: View for Educational purpose, not a trading/investment advice.