Nifty FMCG Analysis. As on Tues 30 March 2021. CMP 34,406. Posted at 10:25 am.
Bottom line : Short term likely bullish. Intermediate term : Bullish.
Daily Ichimoku : Price has tested the lower cloud several times over the past couple of weeks and has emerged to the upside today. Price needs to remain above the cloud to continue the momentum.
3 day chart : 10 EMA has just crossed over the 20 EMA signalling a bullish move could be in it's early stages.
Price broke out from a downward sloping trendline from year 2018 onwards. Price could come back to test it from above at about 31,500 ~ 32,000, before resuming the uptrend, but it is not necessary.