NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Jan 03,2021 – Jan 07,2021)

NIFTY FMCG  Index closed the week on               positive note gaining 666.20 points 1.80%.

Weekly High: 37,630.40

Weekly Low: 36,558

Weekly Close: 37,579.95

Weekly Support & Resistance For Nifty FMCG Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 37100 levels, whereas minor resistance on the upside is capped around 37950-38000 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 36600 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 38400.

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 36800 on downside and 38300 on upside.