EquityPandit’s Outlook for NIFTY FMCG for the week  (Aug 14, 2017 – Aug 18, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 3.00%.

As we have mentioned last week, that 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 24665 and close the week around the levels of 24762.

Support for the index lies in the zone of 24600 to 24700 where Fibonacci levels and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 23900 to 24000 where break out levels for the index is lying.

Resistance for the index lies in the zone of 25100 to 25200 where lows for the month of July-2017 and medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 25500 to 25600 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 23900 to 24000 on downside & 25400 to 25500 on upside.