NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Feb 28, 2022 – March 04, 2022)

NIFTY FMCG  Index closed the week on                negative note losing 1206.15 points 3.30%.

Weekly High: 36,400

Weekly Low: 34,608.65

Weekly Close: 35,292.55

Weekly Support & Resistance For Nifty FMCG Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 34600 levels, whereas minor resistance on the upside is capped around 35750-35800 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 34000 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 36500.

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 34100 on downside and 36300 on upside.