EquityPandit’s Outlook for NIFTY FMCG for the week (Apr 16, 2018 – Apr 20, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.60%.

As we have mentioned last week, that resistance for the index lies in the zone of 26900 to 27000 from where the index has sold off and Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 27400 to 27500. During the week the index manages to hit a high of 27223 and close the week around the levels of 26983.

Support for the index lies in the zone of 26500 to 26600 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 26000 to 26100 where break out levels are lying.

Resistance for the index lies in the zone of 26900 to 27000 from where the index has sold off and Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 27400 to 27500.

Broad range for the index in the coming week is seen from 26200 to 26300 on downside & 27500 to 27600 on upside.