These Two FMCG Stocks Are Back In Fashion

Here's the Nifty Fast Moving Consumer Goods Index stuck in its 27,900-32,250 range. On a positive note, it is hanging out towards the top of it with momentum maintaining its bullish range, so we would expect it to eventually resolve to the upside. Not yet though, so let's get into the individual stocks.

Click on chart to enlarge view.

Here's Aditya Birla Fashion and Retail breaking out of a 4.5-year base to new all-time highs as momentum gets overbought once again. As long as prices are above 250, we can be long with near-term and long-term targets near 327 and 452.

Vaibhav Global Ltd. is a similar company breaking out to new all-time highs. The base in this stock looks nearly identical, albeit it's a little longer, but the implications are the same. As long as prices are above 910, we want to be long with targets near 1,335 and 2,015.

The bigger the base, the higher in space and in this category we'd expect a multi-year uptrend to develop from both of these breakouts.

As long as they are above their respective risk management levels, then we want to be buying any weakness and looking for higher prices in the weeks and months ahead.

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Allstarcharts Team