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NIFTY FMCG Weekly Outlook and Analysis:
For the Week: (Dec 27,2021 – Dec 31,2021)
NIFTY FMCG Index closed the week on positive note gaining 475.75 points 1.31%.
Weekly High: 37,152.30
Weekly Low: 35,653.55
Weekly Close: 36,913.95
Weekly Support & Resistance For Nifty Index:
| RESISTANCE 2 | 38,072 |
| RESISTANCE 1 | 37,492 |
| SUPPORT 1 | 35,994 |
| SUPPORT 2 | 35,074 |
Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 36500 levels, whereas minor resistance on the upside is capped around 37200-37250 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 36000 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 37800.
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 36200 on downside and 37700 on upside.
