The FMCG index shows deep correction, since past some weeks. Although Higher time frame looks bullish but lower time frame witnesses a series of Lower low and lower high.
Now The Index seems to form a base ,from where, we can see longterm buying opportunity in the sector.
TWO POSSIBLE SCENARIOS (Forr Buying Opportunity)
- H&S pattern is forming @0.618 fib level.We can see buying after break and retest of neck line.
-OR, Theres a possibility of accumulation of order from POI(demand zone) as marked in the chart.
**Before entring in any trade we must need to see both higher and lower timeframe in sync.So structural shift from bearish to bullish in lower time frame must keep in mind.
Now The Index seems to form a base ,from where, we can see longterm buying opportunity in the sector.
TWO POSSIBLE SCENARIOS (Forr Buying Opportunity)
- H&S pattern is forming @0.618 fib level.We can see buying after break and retest of neck line.
-OR, Theres a possibility of accumulation of order from POI(demand zone) as marked in the chart.
**Before entring in any trade we must need to see both higher and lower timeframe in sync.So structural shift from bearish to bullish in lower time frame must keep in mind.