EquityPandit’s Outlook for NIFTY FMCG for the week (September 19, 2016 – September 23, 2016) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.30%.

As we have mentioned last week that support for the index lies in the zone of 22400 to 22500. If the index manages to close below these levels then the index can drift to the levels of 22000 to 22100 where short term moving averages are lying. During the week the index manages to hit a low of 22217 and close the week around the levels of 22762.

Support for the index lies in the zone of 22400 to 22500. If the index manages to close below these levels then the index can drift to the levels of 22000 to 22100 where short term moving averages are lying.

Resistance for the index lies in the zone of 23000 to 23100. If the index manages to close above these levels then the index can move to the levels of 23500.

Broad range for the index in the coming week is seen from 22000 to 22100 on downside to 23300 to 23400 on upside.