EquityPandit’s Outlook for NIFTY FMCG for the week (November 15, 2016 – November 18, 2016) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 3.90%.

As we have mentioned last week that Support for the index lies in the zone of 21100 to 21300 from where the index has broken out of the top of June – 2016. If the index manages to close below these levels then the index can drift to the levels of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying. During the week the index manages to hit a low of 20661 and close the week around the levels of 20826.

Support for the index lies in the zone of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 20000 to 20200.

Minor resistance for the index lies in the zone of 21400 to 21500. Resistance for the index lies in the zone of 21700 to 21900 from where the index has broken down from the lows of July – 2016 and August – 2016. If the index manages to close above these levels then the index can move to the levels of 22300 to 22500.

Broad range for the index in the coming week is seen from 20000 to 20200 on downside to 21500 to 21700 on upside.