EquityPandit’s Outlook for NIFTY FMCG for the week (May 23, 2016 – May 27, 2016):  

NIFTY FMCG:

Nifty FMCG index closed the week on absolutely flat note.

As we have mentioned last week that resistance for the index lies in the zone of 19600 to 19800 where 200 & 500 Daily SMA is lying. If the index manages to close above these levels then the index can move to the levels of 20100 where trend-line joining earlier highs is lying. During the week the index manages to hit a high of 20085 and close the week around the levels of 19705.

Resistance for the index lies in the zone of 19600 to 19800 where 200 & 500 Daily SMA is lying. If the index manages to close above these levels then the index can move to the levels of 20100 where trend-line joining earlier highs is lying.

Support for the index lies in the zone of 19200 to 19300 where short term moving averages and 100 Daily SMA is lying. If the index manages to close below these levels then the index can drift to the levels of 18600 to 18800 from where the index has bounced in the month of March – 2016.

Broad range for the index in the coming week is seen from 18800 on downside to 20100 on upside.