EquityPandit’s Outlook for NIFTY FMCG for the week  (Aug 07, 2017 – Aug 11, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.80%.

As we have mentioned last week, that minor support for the index lies in the zone of 25700 to 25800. Support for the index lies in the zone of 25400 to 25500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 24600 to 24700 where Fibonacci levels and medium term moving averages are lying. During the week the index manages to hit a low of 25336 and close the week around the levels of 25551.

Support for the index lies in the zone of 25400 to 25500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 24600 to 24700 where Fibonacci levels and medium term moving averages are lying.

Minor resistance for the index lies in the zone of 25750 to 25800. Resistance for the index lies in the zone of 26150 to 26250 where Fibonacci levels and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 27000 to 27100 from where the index opened gap down.

Broad range for the index in the coming week is seen from 24600 to 24800 on downside & 26400 to 26500 on upside.