EquityPandit’s Outlook for NIFTY FMCG for the week  (Dec 18, 2017 – Dec 22, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on absolutely flat note.

As we have mentioned last week, that support for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25450 to 25550 where Fibonacci levels and short & medium term moving averages are lying. During the week the index manages to hit a low of 26027 and close the week around the levels of 26431.

Support for the index lies in the zone of 26000 to 26100 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25450 to 25550 where Fibonacci levels and short & medium term moving averages are lying.

Resistance for the index lies in the zone of 26600 to 26700. If the index manages to close above these levels then the index can move to the levels of 27000 to 27200 from where the index has opened gap down.

Broad range for the index in the coming week is seen from 25800 to 25900 on downside & 27000 to 27200 on upside.