Index has hits highs around the Gann Level of 57712.50. and retracted the usual percentages at cluster level supports of 53662.50 and 53999.45 as seen on the charts. We saw earlier breakout fromt the important level of 52650 in the week starting 12 Feb 2024. Currently we are in the 3rd week from the lows. Chart shows triple tops at 54561.55 on 19 Feb 2024 week,...
FMCG is a sector that is currently underperforming compared to other sectors. However, I anticipate the possibility of sectoral shifts in the market going forward, which could result in a rally in FMCG. Therefore, I have decided to take a position in an FMCGIETF to capitalize on this potential move. Since this ETF focuses on a sector, I have allocated...
Company:- Nifty FMCG Index
Time Frame:- Hourly
Motive:- Educational Prospective
Describe:- The Nifty FMCG Index is designed to reflect the behavior of FMCGs Indian companies from (Fast Moving Consumer Goods) (FMCG) sector. It incudes companies that deals with those goods and products, which are non-durable, mass consumption products and available off the...
- The FMCG Update followed my path exactly as planned
- Now what do we do?
- Kindly stay fiat or cash and understand that being a Perma Bull in this market won't help at all
- If you want to invest long term wait for a major crash
- Nifty FMCG did play out exactly the way I had forecasted and now it's following my path.
- FMCG stocks can witness a good retracement and I think this isn't the right place to add them as well
- For any long term Investments better try understanding the fact that catching a bullet train in the middle won't help you in gaining money it will help you more in losing.
cmp 51240
bullish harmonics triggered at 50940
First tgt already done of 51300
now can be bought on dips till 51000 for 51300 / 51850 / 52250
Sl 50500 closing basis
if sl hit MAJOR SUPPORT ZONE AT 49600---49700
all the best..
Happy trading..
Regards....
Keshav...
01/09/2023
Disclaimer:
I am not a SEBI Registered analyst...!!
Charts are made only for...
Generally traders and investors follow every morning- news, analysis, research reports & opinions
I am slightly different that i ignore almost all macro, TV news - unless it is stock specific, material (like earnings or M&A) - during trading cycles. These are the things that have kept me out of trouble
Sector Analysis - Having all the sectors up on either...
Someone recently left a comment on my post saying Nifty FMCG is bearish.
Let me tell you the reasons why Nifty FMCG is Bullish and no way bearish.
Here are the reasons :
1) Weekly Timeframe is bullish
2) Daily Timeframe has test it's recent demand zone and also has created bullish price action reacting to the demand zone.
Pro Tip : Always look for higher...
