EquityPandit’s Outlook for NIFTY FMCG for the week (Feb 19, 2018 – Feb 23, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 0.20%.

As we have mentioned last week, that resistance for the index lies in the zone of 26800 to 26900 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 27800 to 27900 where the index has formed a high in the month of January-2018. During the week the index manages to hit a high of 26945 and close the week around the levels of 26599.

Support for the index lies in the zone of 26000 to 26200 where Fibonacci levels and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 25400 to 25500 where Fibonacci levels are lying.

Resistance for the index lies in the zone of 26800 to 26900 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 27800 to 27900 where the index has formed a high in the month of January-2018.

Broad range for the index in the coming week is seen from 25400 to 25500 on downside & 27400 to 27500 on upside.