NIFTY FMCG Weekly Outlook and Analysis:
For the Week: (July 19, 2021 – July 23, 2021)
NIFTY FMCG Index closed the week on positive note gaining 69.15 points 0.19%.
Weekly High: 36,418.70
Weekly Low: 35,912.25
Weekly Close: 36,253.55
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 35900 levels, whereas minor resistance on the upside is capped around 36500-36550 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 35600 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 36800.
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 35700 on downside and 36700 on upside.