NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (Feb 13, 2023 – Feb 17, 2023)

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NIFTY FMCG  Index closed the week on negative note losing 549.10 points 1.19%.

Weekly High: 46,398.70

Weekly Low: 45,303.40

Weekly Close: 45,488.10

Weekly Support & Resistance For Nifty FMCG Index:

Technically on the daily charts we see minor support on the downside for NIFTY FMCG index lies at 44,900 levels, whereas minor resistance on the upside is capped around 45,950-46,000 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 44,500 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 46,400.

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 44,600 on downside and 46,300 on upside.