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
It is like make or break point for Auto. It is near at support level. It should bounce back from here to have upside in whole sector.
Buy at 49 with SL of 46. Rejection bar with break of downward trendline seems good entry.
It is consolidating near 20DMA and upward trendline. Further there is contraction in volatility and volume as well. It can be bought at 39 with SL of 36.45