EquityPandit’s Outlook for NIFTY FMCG for the week (December 07, 2015 – December 11, 2015):

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.80%.

As we have mentioned last week that resistance for the index lies in the zone of 21000 from where the index has sold off on previous occasion. If the index manages to close above this levels then the index can move to the levels of 22000. During the week the index manages to hit a high of 20689 and sold off to close the week around the levels of 20079.

Resistance for the index lies in the zone of 20200 where 100 & 200 Daily SMA are positioned. If the index manages to close above this levels then the index can move to the levels of 20700 where trend-line joining earlier high is positioned.

The index has closed below the strong support zone of 20200. Support for the index lies in the zone of 19300 to 19500 where 500 Daily and 100 Weekly SMA are positioned.

Broad range for the index in the coming week is seen from 19400 on downside to 20400 on upside.