EquityPandit’s Outlook for NIFTY FMCG for the week (December 26, 2016 – December 30, 2016) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 2.00%.

As we have mentioned last week that minor support for the index lies in the zone of 20000 to 20100. Support for the index lies in the zone of 19500 to 19600 where the index has formed a short term bottom. If the index manages to close below these levels then the index can drift to the levels of 19000 to 19100 where the index has taken support in the month of March-2016 and May-2016. During the week the index manages to hit a low of 19512 and close the week around the levels of 19593.

Support for the index lies in the zone of 19500 to 19600 where the index has formed a short term bottom. If the index manages to close below these levels then the index can drift to the levels of 19000 to 19100 where the index has taken support in the month of March-2016 and May-2016.

Minor resistance for the index lies in the zone of 19800 to 19900. Resistance for the index lies in the zone of 20000 to 20100 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 20500 to 20600 where short term moving averages are lying.

Broad range for the index in the coming week is seen from 19100 to 19200 on downside to 20000 to 20100 on upside.