FMCG stocks are making fresh highs: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about FMCG stocks.

Dabur, Emami, Marico, Godrej Industries on the charts?

Godrej Industries found support around levels of 180 and now it is possible it could do levels of 210. FMCG again does not seem to be just a defensive play. In fact stocks are making fresh highs so chances are that they could move even higher.

Emami the support around here is 430, it could test levels of 510-515. Marico tended to find resistance around levels of 150. Once it takes out these 145-150 sort of zone I think there could be 185-190 for Marico.

What is your call on the FMCG pack?

Chances are as long as the market remains choppy they have some kind of tailwind and of and on you will see FMCG doing much better than the other may be along with the pharma stocks.

Consumption may be will go through some kind of correction as well so right now if you have to bet on the long side FMCG and pharma should be in your portfolio because they will give you least amount of downside and hopefully some upside.