EquityPandit’s Outlook for NIFTY FMCG for the week (Aug 13, 2018 – Aug 17, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.20%.

As we have mentioned last week, that the index is trading at life time high so virtually no resistance lies. Resistance for the index lies around 31500 to 31700 where trend-line joining earlier high is lying. If the index manages to close above these levels then the index can move to the levels of 32100 to 32200. During the week the index manages to hit a high of 31551 and close the week around the levels of 31475.

Minor support for the index lies around 30800 to 31000. Support for the index lies in the zone of 30200 to 30400 from where the index has opened gap up. If the index manages to close below these levels then the index can drift to the levels of 29300 to 29500 from where the index has opened gap up and short term moving averages are lying.

The index is trading at life time high so virtually no resistance lies. Resistance for the index lies around 31500 to 31700 where trend-line joining earlier high is lying. If the index manages to close above these levels then the index can move to the levels of 32100 to 32200.

Broad range for the index in the coming week is seen from 30500 to 30700 on downside & 32200 to 32400 on upside.