NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Feb 07, 2022 – Feb 11, 2022)

NIFTY FMCG  Index closed the week on positive note gaining 1320.10 points 3.65%.

Weekly High: 37,712.25

Weekly Low: 36,351.75

Weekly Close: 37,508.40

Weekly Support & Resistance For Nifty Index:

RESISTANCE 2	38,551
RESISTANCE 1	38,029
SUPPORT 1	36,669
SUPPORT 2	35,830

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 36800 levels, whereas minor resistance on the upside is capped around 38050-38150 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 36200 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 38500.

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 36400 on downside and 38300 on upside.

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