According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index faces a formidable hurdle between 52,380 - 52,600; a breakout above this range can trigger a fresh wave of buying.
A closing above 51,480 for Nifty FMCG index would indicate a potential surge in buying activities, encouraging traders to consider selling near this mark
As per Ravi Nathani, adopting a buy-low, sell-high strategy for Nifty FMCG within the established range is the most prudent course of action
The Nifty FMCG can potentially rally nearly 2 per cent from current levels, to near about 53,625, says Ravi Nathani, an independent technical analyst.
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index stands resilient, and promises potential gains in this nuanced market landscape.
According to Ravi Nathani, traders eyeing Nifty FMCG index might find value in purchasing when the index nears the lower limit of its current range
According to Ravi Nathani, an independent technical analyst, the 'buy the dips' strategy seems particularly relevant in the current market conditions.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index seems range-bound, while one can adopt a 'sell on rise' strategy for the PSU Bank index.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index may trade sideways, while the Nifty PSU Bank index is expected to trade with a positive bias.
In the short term, the Nifty FMCG index's first target range is expected to be between 52,000 and 52,175
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index seems range-bound, while the Metal index looks bullish.
According to Ravi Nathani, an independent technical analyst, the IT index could see a fresh wave of buying enthusiasm on clearing the minor resistance zone of 31,200-31,400.
Traders can capitalise by selling the index and its constituents on any intermittent rise
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index may witness a rebound after finding support at 51,636 and 50,650 levels
Nifty Private Bank index to face resistance between 23,550-23,650; Nifty FMCG remains range-bound, says Ravi Nathani
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index has near support at 51,750, below which the index can slide to 50,990.
The FMCG index has breached previous reversal support, igniting fear of caution among retail traders. This move emerged after the index reached a new historic peak a few sessions ago.
FPIs increased their stake in ITC to 14.51 per cent at the end of the June quarter, up from 14.21 per cent seen at the end of March quarter
Meanwhile, the Nifty FMCG index is expected to consolidate in the range of 53,971 and 52,484, says Ravi Nathani, an independent technical analyst.
There is a strong resistance around the 6,525-mark, which suggests that the Nifty Metal index may struggle to surpass this level in the near future