Check Nifty FMCG Index Full Analysis At Unicorn Signals

Nifty FMCG Index Weekly Outlook and Analysis:

For the Week: (June 19, 2023 – June 23, 2023)

Nifty FMCG Outlook for the Week (June 19, 2023 – June 23, 2023)

NIFTY FMCG Index closed the week on positive note gaining 1765.35 points 3.48%.

Weekly High: 52,540.50

Weekly Low: 50,553.25

Weekly Range: 52,440.20

Weekly Support & Resistance For Nifty FMCG:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 51,800 levels, whereas minor resistance on the upside is capped around 52,950-53,000 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 51,200 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 53,500.

Currently NIFTY FMCG index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 51,300 on downside and 53,400 on upside.