EquityPandit’s Outlook for NIFTY FMCG for the week (Dec 10, 2018 – Dec 14, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.50%.

As we have mentioned last week, that support for the index lies in the zone of 29300 to 29500 where Fibonacci levels and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 28300 to 28500 where Fibonacci levels are lying. During the week the index manages to hit a low of 29440 and close the week around the levels of 29673.

Support for the index lies in the zone of 29300 to 29500 where Fibonacci levels and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 28300 to 28500 where Fibonacci levels are lying

Resistance for the index lies around 30000 to 30200 where Fibonacci levels and medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 30800 to 31000 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 28500 to 28700 on downside & 30500 to 30700 on upside.