EquityPandit’s Outlook for NIFTY FMCG for the week  (Dec 11, 2017 – Dec 15, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 3.10%.

As we have mentioned last week, that resistance for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 26500 to 26600. During the week the index manages to hit a high of 26491 and close the week around the levels of 26460.

Support for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25450 to 25550 where Fibonacci levels and short & medium term moving averages are lying.

Resistance for the index lies in the zone of 26500 to 26600. If the index manages to close above these levels then the index can move to the levels of 27000 to 27200 from where the index has opened gap down.

Broad range for the index in the coming week is seen from 25300 to 25500 on downside & 27200 to 27400 on upside.