EquityPandit’s Outlook for NIFTY FMCG for the week  (June 12, 2017 – June 16, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.70%.

As we have mentioned last week that resistance for the index lies in the zone of 26600 to 26700. If the index manages to close above these levels then the index can move to the levels of 27200 to 27400 where Fibonacci levels are lying. During the week the index manages to hit a high of 26515 and close the week around the levels of 25941.

Support for the index lies in the zone of 25400 to 25500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 24500 to 24600 where break out levels are lying.

Minor resistance for the index lies in the zone of 26000 to 26100. Resistance for the index lies in the zone of 26500 to 26600. If the index manages to close above these levels then the index can move to the levels of 27200 to 27400 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 25000 to 25100 on downside & 27000 to 27100 on upside.