NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Feb 21, 2022 – Feb 25, 2022)

NIFTY FMCG  Index closed the week on                negative note losing 172.95 points 0.47%.

Weekly High: 36,698.75

Weekly Low: 35,556.10

Weekly Close: 36,498.70

Weekly Support & Resistance For Nifty FMCG Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 36000 levels, whereas minor resistance on the upside is capped around 37000-37100 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 35700 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 37600.

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 35800 on downside and 37500 on upside.