EquityPandit’s Outlook for NIFTY FMCG for the week  (Dec 26, 2017 – Dec 29, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that resistance for the index lies in the zone of 26600 to 26700. 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. During the week the index manages to hit a high of 26879 and close the week around the levels of 26710.

Minor support for the index lies in the zone of 26400 to 26500. 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 26700 to 26800. 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 26000 to 26200 on downside & 27200 to 27300 on upside.