EquityPandit’s Outlook for NIFTY FMCG for the week (January 18, 2016 – January 22, 2016):

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.50%.

As we have mentioned last week that resistance for the index lies in the zone of 19600 to 19700 where 100 Weekly SMA is positioned. If the index manages to close above this levels then the index can move to the levels of 20000 where 100 & 200 Daily SMA are lying. During the week the index manages to hit a high of 19547 and retraced to close the week around the levels of 19078.

Resistance for the index lies in the zone of 19600 to 19700 where 100 Weekly SMA is positioned. If the index manages to close above this levels then the index can move to the levels of 20000 where 100 & 200 Daily SMA are lying.

Support for the index lies in the zone of 18700 where trend-line joining the lows of October – 2014 and June – 2015 is positioned. If the index closes below this levels then the index can drift to the levels of 18000.

Broad range for the index in the coming week is seen from 18200 on downside to 19800 on upside.