Greenshoots for 2020-21 - Part 2

As suggested in my previous posts that there would be some sectors in a Bear market who could be in Bull market. So in a similar context, the FMCG sector could be the one which could be the one leading the bull part of the bear market. Try having a look at the chart of FMCG index which can give enough indications that where ot could be heading. Despite the severe fall in the equity market they have been able to hold onto strength which has been on the ground of HUL and Nestle.

FMCG Index Chart - 8th April 2020

We can clearly see that FMCG index has broken out out of a major resistance area marked by the horizontal blue line. Now apart from this we still have some good stocks which can be accumulated at current valuations which looks good atleast from the charts perspective. (Be very very suure that this is not a buying recommendation. Please do your own research before buying it or making any sort of investment.

Dabur Daily chart - 8th April 2020

We can clearly see here that dabur has been able to close above the 50 DEMA in the past trading session. So we might see this as being one of the stocks which could provide a good investment opportunities. Do let me know your views and also leave a comment if you like the post.