I have tried to put notes on the chart basis current setup developing in Nifty FMCG and upcoming directional move. Looking at RSI and current move we could see more downside though Nifty FMCG is strong sector therefore it may follow cup and handle pattern before breaking out consolidation zone. Breakout in any directional will lead to a big move, though recent performance of FMCG stocks are pointing that index may recover and breakout towards up soon.
Please do share your comments and insights to make analysis better. Any feedback is welcome.