EquityPandit’s Outlook for NIFTY FMCG for the week (April 11, 2016 – April 13, 2016):  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 2.70%.

As we have mentioned last week that resistance for the index lies in the zone of 19800 to 20000 where 200 Daily SMA is lying and trend-line joining earlier highs is lying. If the index manages to close above these levels then the index can move to the levels of 20500. During the week the index manages to hit a high of 20026 and close the week around the levels of 19992.

Resistance for the index lies in the zone of 19600 to 19800 where 500 & 200 Daily SMA is lying. If the index manages to close above these levels then the index can move to the levels of 20100 where trend-line joining earlier highs is lying.

Index has closed around the support zone of 19500 where 100 Daily SMA is lying. If the index manages to close below these levels then the index can drift to the levels of 18800 to 19000 where the index has formed a short term top.

Broad range for the index in the coming week is seen from 18800 on downside to 19800 on upside.