NIFTY FMCG Weekly Outlook and Analysis:

For the Week: (March 14, 2022 – March 18, 2022)

NIFTY FMCG  Index closed the week on positive note gaining 985.80 points 2.85%.

Weekly High: 35,655.45

Weekly Low: 33,407.55

Weekly Close: 35,613.65

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 35100 levels, whereas minor resistance on the upside is capped around 36000-36100 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 34500 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 36700.

Currently NIFTY FMCG index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 34600 on downside and 36500 on upside.