HUL, ITC, Tata Consumer: FMCG sector on verge of breakout; stay invested

ITC stock is struggling to conquer the resistance of Rs 215 to Rs 220 levels. The downside support stays at Rs 200

Shares of Hindustan Unilever and ITC from the FMCG pack actively participated in Monday's stellar rally at the bourses amid reports that consumer goods' firms, which are facing inflationary pressure on their key raw material inputs, are considering marginal hike on their products price to offset it.

Some FMCG companies like Marico and others have already gone for price hike, while some which include Dabur, Parle and Patanjali are closely monitoring the situation. FMCG players have been trying to absorb the price increase of raw material inputs such as coconut oil, edible oil and palm oil, but they are unlikely to