Ascending Channel pattern in FMCG Indices

17 בנוב׳

CNXFMCG A major correction has happened in FMCG sector after which a strong reversal can happen in the form of bullish engulfing or hammer candlestick in weekly timeframe
If it takes the support of 55,000 and forms a bullish candle, it will reverse from the current support.
If it breakdowns below the 55,000 mark, it can correct up to 50,500 & 45,000 respectively.
Coming weeks will be a deciding factor for the indices.