EquityPandit’s Outlook for NIFTY FMCG for the week (January 04, 2016 – January 08, 2016):

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.60%.

As we have mentioned last week that the resistance for the index lies in the zone of 20100 to 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. During the week the index manages to hit a high of 20258 and manage to close around the levels of 20185.

Index has closed just above the strong resistance zone of 20100 to 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.

Support for the index lies in the zone of 19800 to 20000 where short term moving averages are lying. If the index manages to close below this levels then the index can drift to the levels of 19500 where 100 Weekly SMA is positioned.

Broad range for the index in the coming week is seen from 19500 on downside to 20500 on upside.