EquityPandit’s Outlook for NIFTY FMCG for the week (Jan 15, 2018 – Jan 19, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that resistance for the index lies in the zone of 26800 to 26900. If the index manages to close above these levels then the index can move to the levels of 27000 to 27200 from where the index has opened gap down. During the week the index manages to hit a high of 27483 and close the week around the levels of 27196.

Support for the index lies in the zone of 26700 to 26900 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 26000 to 26200 where Fibonacci levels and short term moving averages are lying.

Resistance for the index lies in the zone of 27200 to 27300 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 27700 to 27800 from where the index has broken down.

Broad range for the index in the coming week is seen from 26300 to 26400 on downside & 27700 to 27800 on upside.