EquityPandit’s Outlook for NIFTY FMCG for the week (July 02, 2018 – July 06, 2018) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 1.20%.

As we have mentioned last week, that resistance for the index lies in the zone of 28900 to 29000 where the index has formed a high in the month of July-2017. If the index manages to close above these levels then the index can move to the levels of 29500 to 29600. During the week the index manages to hit a high of 29017 and close the week around the levels of 28966.

Support for the index lies in the zone of 28400 to 28500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 27900 to 28000 from where the index broke out of January-2018 high and Fibonacci levels are lying.

Resistance for the index lies in the zone of 28900 to 29100 where the index has formed a high in the month of July-2017 and June-2018. If the index manages to close above these levels then the index can move to the levels of 29500 to 29600.

Broad range for the index in the coming week is seen from 28000 to 28100 on downside & 29500 to 29600 on upside.