The Indian benchmark has continued to perform its lackluster show by trading in a narrow range of 11,578-11,627 levels. Market participants are going to active once the tech giants: Infosys and TCS will come up with their 4th Quarter results today as these companies come first while the earnings session kicks off. While all indices are trading dull, FMCG sector has gained 1.06% and currently trading at 30,469.65 levels. On daily scale, Nifty FMCG is trading on the verge of giving a breakout of trend line, which was acting as a crucial resistance previously. Awesome oscillator is on the verge of giving a bullish crossover while RSI is trading at 61.68 levels. Although Awesome Oscillator and RSI are not the only indicators to dictate the future prices, one can make use of other tools like Fibonacci, Andrew Pitchfork, Chart and Candlesticks Patterns.
Some stocks of this counter are also witnessing heavy volumes and momentum that are convincing the emerging trend
- ITC: Major tobacco producer of India is trading at 304.75, 2.82% above from its previous close. There has been a block deal of 250,147 and 1,935,388 shares on April 09 and April 05, 2019 respectively.
- Dabur India: The stock is trading at 407.85, 1% above from its previous close. There has been a block deal of 242,051 and 201,056 shares on April 10 and April 04, 019 respectively.
- Britannia Industries: The stock is trading at 2983, 1.22% above from its previous close. The company has raised 500 crores via bonds.