EquityPandit’s Outlook for NIFTY FMCG for the week (Feb 10, 2020 – Feb 14, 2020):

NIFTY FMCG:

NIFTY FMCG Index closed the week on positive note gaining 612.85 Points 2.03%.

Weekly High: 31,158.65

Weekly Low: 29,833.05

Weekly Close: 30,809.50

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 30400 levels, whereas minor resistance on the upside is capped around 31300-31350 levels.

If NIFTY FMCG index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 30000 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 31800.

Currently NIFTY FMCG index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 30100 on downside and 31700 on upside.

Weekly Pivot Levels:

RESISTANCE 2: 31,926

RESISTANCE 1: 31,367

SUPPORT 1: 30,042

SUPPORT 2: 29,274