Nifty FMCG

After a big run up, FMCG sector is witnessing profit-booking. There is a trade gap in this Index and price may take support at this level. This index made a strong breakout on 5th July this year. We shall keep a close watch on these two levels and accordingly decide about entering long in the FMCG majors such as Britannia, Colpal, Dabur, HUL, ITC, GodrejCP, JubilFood, Marico and UBL (this is not correcting much) for long term and we shall avoid McDowell-N and TataGlobal at the moment.