EquityPandit’s Outlook for NIFTY FMCG for the week (Sep 03, 2018 – Sep 07, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.60%.

As we have mentioned last week, that the index is trading at life time high so virtually no resistance lies. Resistance for the index lies around 32500 to 32700. If the index manages to close above these levels then the index can move to the levels of 33000 to 33200. During the week the index manages to hit a high of 33067 and close the week around the levels of 32911.

Minor support for the index lies around 32500 to 32600. Support for the index lies in the zone of 31800 to 32000 from where the index broke out after consolidation. If the index manages to close below these levels then the index can drift to the levels of 31000 to 31200 from where the index broke out of July-2018 highs.

The index is trading at life time high so virtually no resistance lies. Resistance for the index lies around 33000 to 33200. If the index manages to close above these levels then the index can move to the levels of 33500 to 33600.

Broad range for the index in the coming week is seen from 32300 to 32500 on downside & 33500 to 33600 on upside.