EquityPandit’s Outlook for NIFTY FMCG for the week (Feb 25, 2019 – Mar 01, 2019) :  

NIFTY FMCG:

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

As we have mentioned last week, that support for the index lies in the zone of 28800 to 29000 where low for the month of December-2018 is lying. If the index manages to close below these levels then the index can drift to the levels of 28200 to 28400 where Fibonacci levels are lying. During the week the index manages to hit a low of 28888 and close the week around the levels of 29241.

Support for the index lies in the zone of 28800 to 28900 where low for the month of December-2018 is lying. If the index manages to close below these levels then the index can drift to the levels of 28200 to 28400 where Fibonacci levels are lying.

Resistance for the index lies around 29300 to 29500 where Fibonacci levels and long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 29800 to 30000 where Fibonacci levels and medium term moving averages are lying.

Broad range for the index in the coming week is seen from 28500 to 28700 on downside & 29600 to 29800 on upside.