EquityPandit’s Outlook for CNX FMCG and its major components for week (June 22, 2015 – June  26, 2015):

CNX FMCG:

CNX FMCG index closed the week on positive note gaining more than 2%.

As we have predicted last week that the index will take support around the levels of 18500 to 18700 range and the index hit the low of 18730 and bounced back to the levels of 19500.

The index has formed the Bullish engulfing pattern on weekly charts.

The index is approaching towards the strong resistance zone of 19600 to 19800 where medium term moving averages and trend-line are lying. As seen from the chart the index will face resistance at the upward moving trend-line around the levels of 19700. Also 50 Daily EMA lies in the range of 19700 which will provide stiff resistance.

As seen from the chart, index opened gap down on 03/06/2015 at the levels of 19600 so that zone will also provide some resistance.

Short term moving averages are lying in the range of 19200 which will provide some support to the index.

Broad range for the index in the coming week is seen from 18800 on downside to 19600 on upside.

ITC:

ITC closed the week on positive note gaining around 3%.

The stock bounced back from the levels of 295 where 1000 Daily SMA was lying.

On Daily charts the stock is in strong uptrend and stock can move to the levels of 310 to 315 where medium term moving averages and trend-line resistance are positioned.

Support for the stock lies in the range of 295 to 300 where short term moving averages are lying.

Broad range for the stock in coming week is seen between 280 to 290 on downside and 320 to 330 on upside.

Hindustan Unilever

HIND Unilever closed the week on positive note gaining more than 5%.

The stock has formed a Morning Star candlestick pattern on Weekly chart in downtrend indicating the trend reversal.

As seen from the chart the stock is facing the resistance around the downward sloping trend-line positioned at the levels of 870.

Above the levels of 870 the stock can move to the levels of 890 where 100 Daily SMA and downward sloping channel is positioned.

Support for the stock is lying in the range of 810 to 830 where 100 Daily SMA and trend-line are positioned.

Broad range for the stock in coming week is seen between 810 to 830 on downside and 870 to 890 on upside.

Dabur:

Dabur closed the week on positive note gaining more than 6%.

The stock has formed a Morning Star candlestick pattern on Weekly chart in downtrend indicating the trend reversal.

As seen from the chart the stock is facing the trend-line resistance around the levels of 275.

The stock is moving in the range of 250 on downside to 275 on upside since late April 2015.

If the stock manages to close above the levels of 275 we may see stock entering into the new zone.

The stock has multiple support in the range of 255 to 260.

Broad range for the stock is seen between 250 to 255 on lower end and 280 to 290 on upper end.

Colgate Palmolive:

Colgate Palmolive closed the week on positive note gaining more than 3%.

As we have mentioned last week that the stock has formed the long legged doji on weekly chart in downtrend indicating the exhaustion in selling pressure and this week stock gained around 3%.

The stock has formed a Morning Star candlestick pattern on Weekly chart in downtrend indicating the trend reversal.

The stock is facing resistance around the levels of 1980 to 2000 where 50 Daily EMA and 100 Daily SMA is lying.

A break above this level can take the stock to the levels of 2020 where downward sloping channel resistance is lying.

Multiple support for the stock is lying in the range of 1900 to 1930 levels.

Broad range for the stock is seen between 1900 to 1930 on lower end and 1980 to 2000 on upper end.