CNXFMCG trade ideas
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 FMCG stocks into our portfolio(For educational purpose only)
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
Just a View!!
Vedang!
Disclaimer: Chart is for study purpose only!!
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 price
at the time of study: 62852
Target = 67055
Target in % :6.69
SL: 62637
Note: This is not investment advice I and sharing my study and trade
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 SCENARIOS (Forr Buying Opportunity)
- H&S pattern is forming @0.618 fib level.We can see buying after break and retest of neck line.
-OR, Theres a possibility of accumulation of order from POI(demand zone) as marked in the chart.
**Before entring in any trade we must need to see both higher and lower timeframe in sync.So structural shift from bearish to bullish in lower time frame must keep in mind.
Nifty FMCG/Nifty Relative Strength Nifty FMCG/Nifty Relative Strength chart is exhibiting bullish push at the 200DMA. The price action on the relative strength chart looks bullish and we can expect bullish push from here toward the resistance zones marked.
Nifty FMCG Index ViewsAs disclosed in the chart drawing, the value area is marked herewith to show the buying interest which may or might turn out to be genuine index to be watched for study purposes.
Let's watch it for study.
END OF THE RETRACE MOVE FMCG index has given a good impulsive move and now it is at the end of retracement move, expecting the index to be BULLISH in the upcoming months if it gives any kind of reversal from the VALID DEMAND ZONE then can start to build long positions in the sector
Nifty FMCG - index at resistance pointFMCG index has reached trendline resistance
Time to be cautious on underlying stocks
Nifty Fmcg Multi Month Breakoutnifty fmcg chart saying itself multimonth range breakout and
meme stock on all time high guess what...
its ITC--
for both combination if fmcg index breakout the range and itc support it
then next target for itc 450 & positnally for 6 month to one year target is 500 and above
NiftyFMCG at worst Risk/RewardNiftyFMCG : Dual RS chart w.r.t. Nifty50
🔹Peak Long RS (green) -> @ COVID bottom levels. FMCG was strongest @ COVID bottom
🔹Short RS @ intermediate peak, which will give resistance
❌ Worst Risk/Reward
👉 Expect about 8% correction
FMCG Index about to breakout
FMCG Index is defying gravity
Nifty index is down but it is showing strength
Find out the leaders in FMCG sector
CNXFMCG in consolidationCNXFMCG is currently in a consolidation after an aggressive uptrend. The 20 and 50 SMA (daily TF) have also started to converge signaling towards either a long consolidation period (and then continuing upwards) or the start of a downtrend on an hourly TF.
FMCG MovementI love how FMCG has been moving for a long time (2015!). Every time it makes a new high, it reverts and tests precisely the last All time high that acts as a strong support every time.
Can use this idea to short and go long on FMCG stocks accordingly.
Current status for long term is short
CNX - bearish candlestick patternNifty FMCG led the Nifty rally and is overbought now
Some bearish candlestick patterns have printed in the last few sessions
Last engulfing top pattern has sometimes marked lasting tops on the index in the past
Bulls need to be cautious
ROUND BOTTOM BREAKOUT - FMCG SECTOR OF INDIAN INDEXKeep an eye on CNXFMCG that is FMCG SECTOR.
CNXFMCG has round bottom breakout.
Every FMCG stock is performing well keep an eye on FMCG stocks
example - MARICO , HINDUNILVR , ITC (safest) , NESTLEIND
