EquityPandit’s Outlook for NIFTY FMCG for the week (Dec 09, 2019 – Dec 13, 2019):

NIFTY FMCG:

NIFTY FMCG Index closed the week on negative note losing 439.05 Points 1.42%.

Weekly High: 31,018.55

Weekly Low: 30,482.5

Weekly Close: 30,536.45

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 30300 levels, whereas minor resistance on the upside is capped around 30850-30900 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 30100 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 31200.

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 30100 on downside and 31000 on upside.

 
RESISTANCE 2: 31,215

RESISTANCE 1: 30,875

SUPPORT 1: 30,339

SUPPORT 2: 30,143