EquityPandit’s Outlook for NIFTY FMCG for the week  (July 03, 2017 – July 07, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor support for the index lies in the zone of 25900 to 26000. 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 24500 to 24600 where break out levels are lying. During the week the index manages to hit a low of 25906 and close the week around the levels of 26752.

Minor support for the index lies in the zone of 26400 to 26500. Support for the index lies in the zone of 25900 to 26000 from where the index broke out after consolidation. If the index manages to close below these levels then the index can drift to the levels of 25400 to 25500 where Fibonacci levels are lying.

The index is in strong uptrend and virtually no resistance is visible. Resistance for the index lies in the zone of 27200 to 27300.

Broad range for the index in the coming week is seen from 26000 to 26100 on downside & 27500 to 27700 on upside.