EquityPandit’s Outlook for NIFTY FMCG for the week  (Dec 04, 2017 – Dec 08, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.20%.

As we have mentioned last week, that resistance for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 26500 to 26600. During the week the index manages to hit a high of 26049 and close the week around the levels of 25667.

Support for the index lies in the zone of 25450 to 25550 where Fibonacci levels and short & medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 24900 to 25000 from where the index broke out and 200 daily moving averages are lying.

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

Broad range for the index in the coming week is seen from 25000 to 25100 on downside & 26200 to 26300 on upside.