NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Dec 20,2021 – Dec 24,2021)

NIFTY FMCG  Index closed the week on               negative note losing 1751.55 points 4.59%.

Weekly High: 38,450.95

Weekly Low: 36,378.25

Weekly Close: 36438

Weekly Support & Resistance For Nifty Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 35800 levels, whereas minor resistance on the upside is capped around 36900-37000 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 35300 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 37500.

Currently NIFTY FMCG index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 35500 on downside and 37400 on upside.