EquityPandit’s Outlook for NIFTY FMCG for the week (December 21, 2015 – December 24, 2015):

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.0%.

As we have mentioned last week that the support for the index lies in the zone of 19100 to 19300 where long term trend-line, 500 Daily SMA and 100 Weekly SMA are positioned. If the index close below this levels then the index can drift to the levels of 18000 and the index can witness the free fall as no support is visible in near term. During the week the index manages to hit a low of 19495 and bounce to close the week around the levels of 19802.

Resistance for the index lies in the zone of 20100 to 20200 where 100 & 200 Daily SMA are positioned. If the index manages to close above this levels then the index can move to the levels of 20700 where trend-line joining earlier high is positioned.

Support for the index lies in the zone of 19100 to 19300 where long term trend-line, 500 Daily SMA and 100 Weekly SMA are positioned. If the index close below this levels then the index can drift to the levels of 18000 and the index can witness the free fall as no support is visible in near term.

Broad range for the index in the coming week is seen from 19200 on downside to 20400 on upside.