CNXFMCG looks positive

FMCG sector has been a laggard for lately, It's slightly negatively correlated with the benchmark Nifty.
It seems to have broken out of the downward channel and could shoot up quickly.

Tata Global, Godrej Consumer Products and Marico are some prominent stocks.
I particularly like Marico for this set up. Posting the Marico one soon.

In addition, if the negative correlation holds up, Nifty may have its upside capped at the very least and more likely some correction in near future.