Check Nifty FMCG Index Full Analysis At Unicorn Signals

NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (May 01, 2023 – May 05, 2023)

NIFTY FMCG  Index closed the week on positive note gaining 1144.40 points 2.45%.

Weekly High: 47,955.30

Weekly Low: 46,509.75

Weekly Close: 47,814.10

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 47,400 levels, whereas minor resistance on the upside is capped around 48,150-48,200 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 47,000 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 48,600.

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 47,100 on downside and 48,500 on upside.