EquityPandit’s Outlook for CNX FMCG for the week (October 19, 2015 – October 23, 2015):

CNX FMCG:

CNX FMCG index closed the week on negative note losing around 0.4%.

As we have mentioned last week that the index has been forming the bearish pattern on daily charts. Support for the index lies in the zone of 20000 to 20200 where 100 & 200 Daily SMA are positioned. If the index closes below the levels of 20000 then the index can drift to the levels of 19300 where long term trend-line support for the index is lying. During the week the index manages to hit a low of 20234 and close the week around the levels of 20439.

Support for the index lies in the zone of 20000 to 20200 where 100 & 200 Daily SMA are positioned. If the index closes below the levels of 20000 then the index can drift to the levels of 19300 where long term trend-line support for the index is lying.

Resistance for the index lies in the zone of 20600 where trend-line joining highs is positioned. If the index manages to close above this levels then the index can move to the levels of 21000.

Broad range for the index in the coming week is seen from 19800 to 20000 on downside to 20800 to 21000 on upside.