NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (March 07, 2022 – March 11, 2022)

NIFTY FMCG  Index closed the week on negative note losing 664.70 points 1.88%.

Weekly High: 35,593.85

Weekly Low: 34,136.50

Weekly Close: 34,627.85

Weekly Support & Resistance For Nifty FMCG Index:

RESISTANCE 2	36,243
RESISTANCE 1	35,435
SUPPORT 1	33,978
SUPPORT 2	33,328

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 34200 levels, whereas minor resistance on the upside is capped around 35000-35050 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 33700 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 35500.

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 33800 on downside and 35400 on upside.

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