EquityPandit’s Outlook for NIFTY FMCG for the week (July 11, 2016 – July 15, 2016):  

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 0.80%.

As we have mentioned last week that support for the index lies in the zone of 21300 to 21400 from where the index has broken out of the short term top. If the index manages to close below these levels then the index can drift to the levels of 21000 where short term moving averages are lying. During the week the index manages to hit a low of 21592 and close the week around the levels of 21856.

Minor resistance for the index lies in the zone of 22100 to 22200. Resistance for the index lies in the zone of 22600 to 22700 where life time highs for the index is lying. If the index manages to close above these levels then the index can move to the levels of 23000 to 23200.

Support for the index lies in the zone of 21300 to 21400 from where the index has broken out of the short term top. If the index manages to close below these levels then the index can drift to the levels of 21000 where short term moving averages are lying.

Broad range for the index in the coming week is seen from 21300 on downside to 22500 on upside.