FMCG Breakout: Early Reversal or Rotation? 📦

NIFTY FMCG has shown a notable technical shift with a breakout above the weekly 20-EMA, followed by a sharp 8–9% gap-up rally on 8th April, indicating strong buying momentum. The move is further supported by heavyweights like Nestlé India gaining ~20–21% and Hindustan Unilever Ltd rising ~15–16%, reflecting broad-based participation. This strength raises an important question, whether the sector is entering a structural reversal phase after prolonged underperformance, or if this is a tactical shift towards defensives amid evolving macro conditions.