EquityPandit’s Outlook for NIFTY FMCG for the week ( Jan 08, 2018 – Jan 12, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.20%.

As we have mentioned last week, that minor support for the index lies in the zone of 26500 to 26600. Support for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25450 to 25550 where Fibonacci levels and short & medium term moving averages are lying. During the week the index manages to hit a low of 26474 and close the week around the levels of 26914.

Minor support for the index lies in the zone of 26500 to 26600. Support for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25450 to 25550 where Fibonacci levels and 200 daily moving averages are lying.

Resistance for the index lies in the zone of 26800 to 26900. If the index manages to close above these levels then the index can move to the levels of 27000 to 27200 from where the index has opened gap down.

Broad range for the index in the coming week is seen from 26400 to 26500 on downside & 27500 to 27600 on upside.