EquityPandit’s Outlook for NIFTY FMCG for the week  (June 05, 2017 – June 09, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 3.50%.

As we have mentioned last week that minor support for the index lies in the zone of 25200 to 25300. Support for the index lies in the zone of 24600 to 24700 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 23800 to 24000 where break out levels and short term moving averages are lying. During the week the index manages to hit a low of 25264 and close the week around the levels of 26401.

Minor support for the index lies in the zone of 26000 to 26100. 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.

Resistance for the index lies in the zone of 26600 to 26700. If the index manages to close above these levels then the index can move to the levels of 27200 to 27400 where Fibonacci levels are lying.

Broad range for the index in the coming week is seen from 25400 to 25500 on downside & 27300 to 27400 on upside.