EquityPandit’s Outlook for CNX FMCG for the week (November 09, 2015 – November 13, 2015):

CNX FMCG:

CNX FMCG index closed the week on positive note gaining around 0.80%.

As we have mentioned last week that resistance for the index lies in the zone of 20300 to 20500 where 200 Daily SMA and trend-line resistance are positioned. If the index manages to close above this levels then the index can move to the levels of 21000. During the week the index manages to hit a high of 20419 and close the week around the levels of 20277.

Resistance for the index lies in the zone of 20300 to 20500 where 200 Daily SMA and trend-line resistance are positioned. If the index manages to close above this levels then the index can move to the levels of 21000.

Support for the index lies in the zone of 20000 where 100 Daily SMA is positioned. If the index closes below this levels then the index can drift to the levels of 19350 where long term support for the index is positioned.

Broad range for the index in the coming week is seen from 19500 to 19700 on downside to 20500 to 20600 on upside.