EquityPandit’s Outlook for CNX FMCG for week (July 27, 2015 – July 31, 2015):

CNX FMCG:

CNX FMCG index closed the week on negative note losing around 1%.

As we have mentioned last week that if the index cross above the levels of 20300 the index can move towards the levels of 21000. The index hit a high of around 20635 during the week and sold off to the levels of 20100 before closing the week around the levels of 20300.

The index has taken the support around the zone of 20100 to 20200 where 100 Daily SMA, 200 Daily SMA and trend-line support are positioned.

If the support level of 20000 broken the index can drift to the levels of 19500 to 19800 levels.

Support for the index lies in the range of 19800 to 20100 where short term and long term moving averages are positioned.

Resistance for the index lies in the zone of 20600. If the index manages to cross above the resistance zone of 20600 the index can move to the levels of 21000.

Broad range for the index in the coming week is seen from 19700 on downside to 21000 on upside.