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Nifty FMCG Index Weekly Outlook and Analysis:

For the Week: (July 24, 2023 – July 28, 2023)

Nifty FMCG Outlook for the Week (July 24, 2023 – July 28, 2023)

NIFTY FMCG  Index closed the week on positive note gaining 243.75 points 0.46%.

Weekly High: 54,349.85

Weekly Low: 53,078.55

Weekly Close: 53,697.45

Weekly Support & Resistance For Nifty FMCG Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 53,000 levels, whereas minor resistance on the upside is capped around 54,150-54,200 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 52,500 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 54,600.

Currently NIFTY FMCG index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 52,600 on downside and 54,500 on upside.