NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Feb 14, 2022 – Feb 18, 2022)

NIFTY FMCG  Index closed the week on negative note losing 836.75 points 2.23%.

Weekly High: 37,591.05

Weekly Low: 36,407.65

Weekly Close: 36,671.65

Weekly Support & Resistance For Nifty FMCG Index:

RESISTANCE 2	38,073
RESISTANCE 1	37,372
SUPPORT 1	36,189
SUPPORT 2	35,706

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 36200 levels, whereas minor resistance on the upside is capped around 37000-37100 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 35700 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 37800.

Currently NIFTY FMCG index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 35900 on downside and 37700 on upside.

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