EquityPandit’s Outlook for NIFTY FMCG for the week  (Nov 20, 2017 – Nov 24, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 0.70%.

As we have mentioned last week, that resistance for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 26500 to 26600. During the week the index manages to hit a high of 26069 and close the week around the levels of 25749.

Minor support for the index lies in the zone of 25700 to 25800. Support for the index lies in the zone of 25400 to 25500 where Fibonacci levels and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 24900 to 25000 from where the index broke out.

Resistance for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 26500 to 26600.

Broad range for the index in the coming week is seen from 25000 to 25100 on downside & 26400 to 26500 on upside.