EquityPandit’s Outlook for CNX FMCG for week (July 20, 2015 – July 24, 2015):

CNX FMCG:

CNX FMCG index closed the week on positive note gaining around 4%.

As we have mentioned last week that on 10/07/2015 the index has taken support around the rising trend-line positioned around the levels of 19800 and the index closed above the 20 Daily EMA and 50 Daily EMA positioned around the levels of 19850.

This week the index hold that support zone and also the index moved above the strong resistance zone of 20200 where 100 & 200 Daily SMA were lying.

During the week the index also cross above the downward sloping trend-line positioned around the levels of 20300.

As we have been mentioning that if the index cross above the levels of 20300 the index can move towards the levels of 21000.

Support for the index lies in the range of 19800 to 20100 where short term and long term moving averages are positioned.

Broad range for the index in the coming week is seen from 19700 on downside to 21000 on upside.