Stock Radar: FMCG stocks in focus! Tata Consumer forms strong base above 1000 since March; time to buy?

The FMCG stock hit a record high of Rs 1,269 on March 7, 2024, but soon after the rally lost steam. Treading below the 20- & 30-week moving average, it found support above the 1,000 level. This is the level in which it has consolidated in a range since April on the weekly charts. So, technically, it has formed a strong base and is ready for a rebound.