EquityPandit’s Outlook for NIFTY FMCG for the week  (Aug 28, 2017 – Sep 01, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 0.60%.

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 25000 to 25200 where medium term moving averages and break out levels are lying. During the week the index manages to hit a low of 25538 and close the week around the levels of 25555.

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 25000 to 25200 where medium term moving averages and break out levels are lying.

Resistance for the index lies in the zone of 26100 to 26200 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 26600 to 26700.

Broad range for the index in the coming week is seen from 24700 to 24800 on downside & 26600 to 26700 on upside.