EquityPandit’s Outlook for NIFTY FMCG for the week  (June 27, 2017 – June 30, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.00%.

As we have mentioned last week that minor resistance for the index lies in the zone of 26000 to 26100. Resistance for the index lies in the zone of 26500 to 26600. If the index manages to close above these levels then the index can move to the levels of 27200 to 27400 where Fibonacci levels are lying. During the week the index manages to hit a high of 26350 and close the week around the levels of 26164.

Minor support for the index lies in the zone of 25900 to 26000. Support for the index lies in the zone of 25400 to 25500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 24500 to 24600 where break out levels are lying.

Resistance for the index lies in the zone of 26400 to 26500. If the index manages to close above these levels then the index can move to the levels of 26800 to 27000.

Broad range for the index in the coming week is seen from 25000 to 25100 on downside & 27000 to 27100 on upside.