EquityPandit’s Outlook for NIFTY FMCG for the week (Dec 24, 2018 – Dec 28, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 0.60%.

As we have mentioned last week, that resistance for the index lies around 30700 to 30900 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 31600 to 31800 where Fibonacci levels are lying. During the week the index manages to hit a high of 31064 and close the week around the levels of 30200.

Minor support for the index lies in the zone of 30000 to 30100. Support for the index lies in the zone of 29500 to 29700 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 28300 to 28500 where Fibonacci levels are lying

Minor resistance for the index lies in the zone of 30500 to 30600. Resistance for the index lies around 30800 to 31000 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 31600 to 31800 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 29300 to 29500 on downside & 30700 to 30900 on upside.