ITC, HUL, Marico, Dabur: Here's how to trade FMCG stocks post Budget 2020

Hindustan Unilever may rally towards Rs 2,300 if it trades above Rs 2,150 levels.

Markets on Saturday reacted negatively to the Union Budget 2020-21 presented by the Finance Minister Nirmala Sitharaman as the proposals failed to cheer market participants. Shares of tobacco manufacturers took a beating as the government proposed to increase the National Calamity Contingency Duty (NCCD) on cigarettes, hookah, chewing tobacco, snuff and tobacco extracts and essence. ITC on Monday slipped over 5 per cent and hit a fresh 52-week low on the BSE. 

Here's a look at what technical charts indicate for ITC and other FMCG counters - 

ITC Ltd (ITC): A major breakdown below Rs 250 may lead