NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Jan 31, 2022 – Feb 04, 2022)

NIFTY FMCG  Index closed the week on negative note losing 624.60 points 1.70%.

Weekly High: 36,880.70

Weekly Low: 35,366.55

Weekly Close: 36,188.30

Weekly Support & Resistance For Nifty FMGC Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 35600 levels, whereas minor resistance on the upside is capped around 36850-36950 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 34800 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 37400.

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 35000 on downside and 37200 on upside.