Check Nifty FMCG Index Full Analysis At Unicorn Signals

Nifty FMCG Index Weekly Outlook and Analysis:

For the Week: (July 31, 2023 – Aug 04, 2023)

Nifty FMCG Outlook for the Week (July 31, 2023 – Aug 04, 2023)

NIFTY FMCG Index closed the week on negative note losing 733.40 points 1.37%.

Weekly High: 53,882.25

Weekly Low: 52,002.75

Weekly Close: 52,964.05

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 52,400 levels, whereas mi- nor resistance on the upside is capped around 53,450-53,500 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 52,000 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 54,000.

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 52,100 on downside and 53,800 on upside.