EquityPandit’s Outlook for NIFTY FMCG for the week  (Sep 18, 2017 – Sep 22, 2017) :  

NIFTY FMCG:

Nifty FMCG index closed the week on positive note gaining around 0.40%.

As we have mentioned last week, that minor resistance for the index lies in the zone of 25550 to 25650. Resistance for the index lies in the zone of 26000 to 26100 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 26600 to 26700. During the week the index manages to hit a high of 25935 and close the week around the levels of 25506.

Support for the index lies in the zone of 25000 to 25200 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 24600 to 24700 where Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 25550 to 25650. Resistance for the index lies in the zone of 26000 to 26100 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 26600 to 26700.

Broad range for the index in the coming week is seen from 24600 to 24700 on downside & 26200 to 26300 on upside.