CNXFMCG : Expecting a bull move
FMCG is a sector that is currently underperforming compared to other sectors. However, I anticipate the possibility of sectoral shifts in the market going forward, which could result in a rally in FMCG. Therefore, I have decided to take a position in an FMCGIETF to capitalize on this potential move. Since this ETF focuses on a sector, I have allocated approximately 5% of my capital to this position. Normally the maximum allocation that I go for in a scrip is 2.5%. However, a sectoral ETF is diversified within itself, and this gives me a bit more confidence to take a higher risk. The price action also gives me confidence in this decision.
As of now, my expected target is the high of the parallel channel. However, I will re-evaluate the market dynamics as soon as the price reaches the all-time high and will act accordingly.
Any further updates related to this trade will be posted beneath this message. Feel free to check them out too.
Follow me to stay informed about my positions and market views.
Also share your views and opinions underneath this post.
As of now, my expected target is the high of the parallel channel. However, I will re-evaluate the market dynamics as soon as the price reaches the all-time high and will act accordingly.
Any further updates related to this trade will be posted beneath this message. Feel free to check them out too.
Follow me to stay informed about my positions and market views.
Also share your views and opinions underneath this post.
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