EquityPandit’s Outlook for NIFTY FMCG for the week  (April 24, 2017 – April 28, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.20%.

As we have mentioned last week that resistance for the index lies in the zone of 23750 to 23850 where the index has posted a life time highs. If the index manages to close above these levels then the index can move to the levels of 24250 to 24350. During the week the index manages to hit a high of 23723 and close the week around the levels of 23230.

Support for the index lies in the zone of 22900 to 23000 from where the index opened gap up. If the index manages to close below these levels then the index can drift to the levels of 22300 to 22500 where the index has taken multiple support.

Minor resistance for the index lies in the zone of 23400 to 23500. Resistance for the index lies in the zone of 23750 to 23850 where the index has posted a life time highs. If the index manages to close above these levels then the index can move to the levels of 24250 to 24350.

Broad range for the index in the coming week is seen from 22200 to 22300 on downside & 24000 to 24100 on upside.