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NIFTY FMCG Weekly Outlook and Analysis:
For the Week: (Nov 15,2021 – Nov 19,2021)
NIFTY FMCG Index closed the week on negative note losing 2502.40 points 6.05%.
Weekly High: 42,021.45
Weekly Low: 38,563.65
Weekly Close: 38,874.80
Weekly Support & Resistance For Nifty Index:
| RESISTANCE 2 | 43,277 |
| RESISTANCE 1 | 41,076 |
| SUPPORT 1 | 37,618 |
| SUPPORT 2 | 36,362 |
Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 38100 levels, whereas minor resistance on the upside is capped around 39900-4000 levels.
If NIFTY FMCG index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 37300 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 40700.
Currently NIFTY FMCG index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 37500 on downside and 40400 on upside.
