EquityPandit’s Outlook for NIFTY FMCG for the week (July 09, 2018 – July 13, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that support for the index lies in the zone of 28400 to 28500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 27900 to 28000 from where the index broke out of January-2018 high and Fibonacci levels are lying. During the week the index manages to hit a low of 28601 and close the week around the levels of 29345.

Minor support for the index lies around 29000 to 29100. Support for the index lies in the zone of 28400 to 28500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 27900 to 28000 from where the index broke out of January-2018 high and Fibonacci levels are lying.

Resistance for the index lies in the zone of 29500 to 29600. If the index manages to close above these levels then the index can move to the levels of 29800 to 30000.

Broad range for the index in the coming week is seen from 29000 to 29100 on downside & 29800 to 30000 on upside.