EquityPandit’s Outlook for NIFTY FMCG for the week (Dec 03, 2018 – Dec 07, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 3.00%.

As we have mentioned last week, that resistance for the index lies around 29300 to 29500 where low for the month of September-2018 and Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 29900 to 30000 where Fibonacci levels and medium term moving averages are lying. During the week the index manages to hit a high of 30438 and close the week around the levels of 30126.

Support for the index lies in the zone of 29300 to 29500 where Fibonacci levels and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 28300 to 28500 where Fibonacci levels are lying

Resistance for the index lies around 30000 to 30200 where Fibonacci levels and medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 30800 to 31000 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 29000 to 29200 on downside & 31000 to 31200 on upside.