EquityPandit’s Outlook for NIFTY FMCG for the week  (July 31, 2017 – Aug 04, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.90%.

As we have mentioned last week, that resistance for the index lies in the zone of 26150 to 26250 where Fibonacci levels and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 27000 to 27100 from where the index opened gap down. During the week the index manages to hit a high of 26276 and close the week around the levels of 26034.

Minor support for the index lies in the zone of 25700 to 25800. 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 24600 to 24700 where Fibonacci levels and medium term moving averages are lying.

Resistance for the index lies in the zone of 26150 to 26250 where Fibonacci levels and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 27000 to 27100 from where the index opened gap down.

Broad range for the index in the coming week is seen from 25000 to 25100 on downside & 26800 to 27000 on upside.