There may bounce back?!!Five year trend line and it may see a support at 51000. FMCG ETF may be good investing for next one year holding.
NIFTY FMCG INDEX: Likely InvH &Shoulders Breakout in Daily ChartNIFTY FMCG INDEX :Lies above all its 20DEMA,50DEMA,100DEMA & 200 DEMA Averages.It has formed an Inv Head & shoulders Breakout pattern in the daily chart. Already broke its neckline resistance at 58300 and going by the pattern and the momentum its likely to test 60000-62000 soon.Seems its time to add
Nifty FMCGNifty FMCG cmp 56480
Looking at the chart it seems the fmcg is in wave b of its corrective wave upside...
as per this,
Nifty fmcg could touch levels of 59700 in coming days as wave C of its corrective wave upside...
but until than , we will wait for confirmation of wave c of wave B being completed
Nifty FMCG SellNifty FMCG down side target 51000 . Weekly time frame fmcg index 5 wave complete . and again come down wave a,b or c
FMCG at major support of 5800 and a trend line from 2022FMCG at major support of 5800 and a trend line from 2022
Nifty FMCG breakoutNifty FMCG breakout and the pattern is up flag/triangular pattern.
I will take trade using FMCG ETF (ICICI Prudential Nifty FMCG ETF (INF109KC19V3)
also one can find individual stocks from this index to trade.
Details:
Date: 21 Aug 2024
Pattern: up flag /triangular pattern
The current market
NIFTY FMCGIndex investing through SIP. FMCG index is avaiable at very low price. as we all know index is very safe. in sip it is very safe . i m going to sip in this index
FMCG...... DOES IT FIND BASE?The FMCG index shows deep correction, since past some weeks. Although Higher time frame looks bullish but lower time frame witnesses a series of Lower low and lower high.
Now The Index seems to form a base ,from where, we can see longterm buying opportunity in the sector.
TWO POSSIBLE SCENARIO
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Displays a symbol's price movements over previous years to identify recurring trends.
