EquityPandit’s Outlook for NIFTY FMCG for the week (Feb 05, 2018 – Feb 09, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.90%.

As we have mentioned last week, that minor support for the index lies in the zone of 27400 to 27500. Support for the index lies in the zone of 26700 to 26900 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 26000 to 26200 where Fibonacci levels and short term moving averages are lying. During the week the index manages to hit a low of 26844 and close the week around the levels of 27180.

Support for the index lies in the zone of 26700 to 26900 where break out levels and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 26000 to 26200 where Fibonacci levels and medium term moving averages are lying.

Resistance for the index lies in the zone of 27700 to 27800 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 28200 to 28300.

Broad range for the index in the coming week is seen from 26000 to 26200 on downside & 28700 to 28800 on upside.