Sushil Kedia of CIMB told CNBC-TV18, “On the long run, the tops placed in FMCG space in middle of July are long-term tops. Market formed a substantial dip after that and what is happening is the counter trend move to the larger trend within which last ten days have been a minor dip."
"Perhaps there is some room for FMCG stocks to still perform on the upside over the next week or ten days, but the larger trade looks unlikely. FMCG sector has all the signs of having topped out," Kedia said.
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