Will ITC, Marico, and Nestle shares see a surge? At what price will they break out? Experts provide this answer.

News Topical, Digital Desk : In the last hour of the stock market on December 23rd, some FMCG stocks, including ITC, Marico, and Nestle, saw strong price action. However, ITC shares closed with a gain of 1.15%. Notably, ITC shares saw an intraday gain of more than 1% after several trading sessions, and closed above key levels.

Meanwhile, Marico and Nestle India, which are already trading at key levels, have also seen good momentum. The question is whether these stocks could see further gains and at what levels will a breakout be seen. Experts at Anand Rathi Investment Services have answered this question…

Important level for ITC shares

Jigar Patel, Senior Manager, Equity Research, said that ITC shares have strong support at Rs 398, while resistance is at Rs 412. A significant rally is possible only if the stock breaks this level. On December 23, ITC shares hit a high of Rs 408.90 and closed at Rs 407.25.

Key level for MARICO shares

For Marico shares , the Rs 728 level is strong support, while resistance is at Rs 751. If this FMCG stock breaks above Rs 751, it could see levels of Rs 760. Currently, it is expected to trade in the range of Rs 728 to Rs 760.

Key level for Nestle shares

For Nestle India shares, the ₹1,230 level acts as strong support, while the ₹1,265 level acts as significant resistance. If the stock breaks above ₹1,265, it could see a significant rally and reach ₹1,300.

Key levels for Nifty FMCG Index

Meanwhile, the Nifty FMCG index's movement could also boost these stocks. This index closed at 55,348 on December 23rd. Significantly, the FMCG index has been gaining momentum for three days. According to Jigar Patel, the FMCG index has strong support at 54,400 and resistance at 56,000.

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