EquityPandit’s Outlook for NIFTY FMCG for the week (Mar 05, 2019 – Mar 08, 2019) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.80%.

As we have mentioned last week, that resistance for the index lies around 29300 to 29500 where Fibonacci levels and long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 29800 to 30000 where Fibonacci levels and medium term moving averages are lying. During the week the index manages to hit a high of 29548 and close the week around the levels of 29465.

Support for the index lies in the zone of 28800 to 29000 where low for the month of December-2018 and February-2019 are lying. If the index manages to close below these levels then the index can drift to the levels of 28200 to 28400 where Fibonacci levels are lying.

Resistance for the index lies around 29300 to 29500 where Fibonacci levels and long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 29800 to 30000 where Fibonacci levels and medium term moving averages are lying.

Broad range for the index in the coming week is seen from 28600 to 28800 on downside & 29800 to 30000 on upside.