NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Oct 18,2021 – Oct 22,2021)

NIFTY FMCG  Index closed the week on                positive note gaining 1383.85 points 3.46%.

Weekly High: 41,789.30

Weekly Low: 40,061.90

Weekly Close: 41,377.20

Weekly Support & Resistance For Nifty Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 40800 levels, whereas minor resistance on the upside is capped around 41900-42000 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 40300 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 42700.

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 40500 on downside and 42500 on upside.