EquityPandit’s Outlook for NIFTY FMCG for the week (Feb 11, 2019 – Feb 15, 2019) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.40%.

As we have mentioned last week, that support for the index lies in the zone of 29800 to 30000 where Fibonacci levels and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 29400 to 29600 where Fibonacci levels and long term moving averages are lying. During the week the index manages to hit a low of 29695 and close the week around the levels of 29769.

Support for the index lies in the zone of 29300 to 29500 where Fibonacci levels and long term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 28800 to 29000 where low for the month of December-2018 is lying.

Resistance for the index lies around 29800 to 30000 where Fibonacci levels and medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 30500 to 30700 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 29000 to 29200 on downside & 30500 to 30700 on upside.