NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (April 26,2021 – April 30,2021)

NIFTY FMCG Index closed the week on negative note losing 1127.05 points 3.23%.

Weekly High: 34,772.05

Weekly Low: 33,361.70

Weekly Close: 33,726.10

Weekly Support & Resistance For Nifty Index:

NIFTY FMCG index opened gap down and attempted to recover losses in opening session of the week. Index remain under pres-sure throughout the week back of profit booking and ended on negative note. We expect index likely to continue this down trend going forward.

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 33200 levels, whereas mi-nor resistance on the upside is capped around 34200-34300 levels.

If NIFTY FMCG index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 32500 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 34800.

Currently NIFTY FMCG index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 32800 on downside and 34500 on upside.