The Nifty FMCG Index plunged nearly 3%, its steepest single-day drop in 28 months after HUL’s second-quarter results missed expectations, disappointing investors. Analysts anticipate continued margin pressure for consumer companies in the near term due to rising raw material costs and weak urban demand.
Tech View: Minor pullback rally likely in Nifty, crucial resistance at 24,750. How to trade on Monday
Tejas Shah, Technical Research Analyst at JM Financial & BlinkX, noted that Nifty has support at 24,100 and 24,000, with immediate resistance at 24,450-500 and