EquityPandit’s Outlook for NIFTY FMCG for the week (Jan 29, 2018 – Feb 02, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.70%.

As we have mentioned last week, that resistance for the index lies in the zone of 27700 to 27800 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 28000 to 28200. During the week the index manages to hit a high of 27924 and close the week around the levels of 27716.

Minor support for the index lies in the zone of 27400 to 27500. Support for the index lies in the zone of 26700 to 26900 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 26000 to 26200 where Fibonacci levels and short term moving averages are lying.

Resistance for the index lies in the zone of 27700 to 27800 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 28200 to 28300.

Broad range for the index in the coming week is seen from 26700 to 26800 on downside & 28700 to 28800 on upside.