NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (August 23,2021 – August 27,2021)

NIFTY FMCG Index closed the week on positive note gaining 1754 points 4.76%.

Weekly High: 38,741.45

Weekly Low: 36,703.35

Weekly Close: 38,596.05

Weekly Support & Resistance For Nifty FMCG Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 37800 levels, whereas minor resistance on the upside is capped around 39200-39300 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 37200 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 40000.

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 37500 on downside and 39700 on upside.