FMCG Sector - On the Verge of Breakout
-
As highlighted in the weekly newsletter a couple of weeks ago, according to Seasonality Analysis, February historically records the worst monthly performance for this sector. However, this dip typically signifies a bottoming-out process, setting the stage for a potential upward trend.
The chart for Nifty FMCG indicates a falling channel pattern, but signs are pointing towards an imminent breakout, particularly in the 54,300-54,400 zone. The sector presents lucrative opportunities in the near future.
-
UPDATED CHART: Nifty FMCG Index with 50DEMA and 200DEMA
