Nifty FMCG in overbought zone; should you lock gains to skip downside?

Quick Summary:

Monitoring key levels and adhering to strict stop-loss strategies will be crucial in navigating the near-term market conditions for both indices.(Disclaimer: Ravi Nathani is an independent technical analyst.Views are his own.

The Nifty FMCG Index, currently overbought, suggests that profit booking is imminent.

Fresh investments should be considered only when the index corrects to the aforementioned support levels, ensuring a better risk-reward ratio.

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Category: BusinessFinance

Markets: India

Topics: Technical analysis Technical charts Nse Nifty chart analysis Outlook Nifty mid select index Nifty FMCG Stock call Nifty auto Tech calls Nifty charts Bse

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Article Type: News Report

Published On: 2024-07-19 @ 06:28:07 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 551 words

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