EquityPandit’s Outlook for NIFTY FMCG for the week (March 14, 2016 – March 18, 2016):  

NIFTY FMCG:

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

As we have mentioned last week that the index has closed around the strong resistance zone of 19500 to 19600 where 100 & 500 Daily SMA and channel resistance is lying. If the index manages to close above this levels then the index can move to the levels of 19800 to 20000 where 200 Daily SMA is lying. During the week the index manages to hit a high of 19409 and close the week around the levels of 19374.

The index has closed around the strong resistance zone of 19500 to 19600 where 100 & 500 Daily SMA and channel resistance is lying. If the index manages to close above this levels then the index can move to the levels of 19800 to 20000 where 200 Daily SMA is lying.

Minor support for the index lies in the zone of 18600 to 18800 where the index has formed a short term top. If the index manages close below this levels then the index can drift to the levels of 17200 to 17500 where 1000 Daily SMA and 200 Weekly SMA is lying.

Broad range for the index in the coming week is seen from 18500 on downside to 19800 on upside.