NIFTY FMCG Weekly Outlook and Analysis:
For the Week: (Nov 14, 2022 – Nov 18, 2022)
NIFTY FMCG Index closed the week on positive note gaining 10.95 points 0.02%.
Weekly High: 45,050.35
Weekly Low: 44,386.15
Weekly Close: 44,520.50
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 44150 levels, whereas minor resistance on the upside is capped around 44950-45000 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 43600 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 45400.
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 43700 on downside and 45300 on upside.