EquityPandit’s Outlook for NIFTY FMCG for the week (November 16, 2015 – November 20, 2015):

NIFTY FMCG:

Nifty FMCG index closed the week on negative note losing around 1.80%.

As we have mentioned last week that resistance for the index lies in the zone of 20300 to 20500 where 200 Daily SMA and trend-line resistance are positioned. If the index manages to close above this levels then the index can move to the levels of 21000. During the week the index manages to hit a high of 20552 and close the week around the levels of 19896.

Resistance for the index lies in the zone of 20100 to 20300 where 100 & 200 Daily SMA are positioned. If the index manages to close above this levels then the index can move to the levels of 20500.

Support for the index lies in the zone of 19350 where trend-line support and 100 Weekly SMA for the index is lying. If the index closes below this levels then the index can drift to the levels of 19000 where 500 Daily SMA is positioned.

Broad range for the index in the coming week is seen from 19300 on downside to 20300 on upside.