Nifty FMCG Outlook for the Week (Nov 09,2020 – Nov 13,2020)

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 significant assistance on lower side around 28700 and if breaches minor resistance on the benefit and closes above it, we may see fresh breakout and index can head towards higher levels around 30200.

SUPPORT 1.
29,092.

ASSISTANCE 2.
28,755.

Weekly Close: 29,428.45.

RESISTANCE 1.
30,002.

Weekly High: 30,240.30.

Weekly Support & & Resistance For Nifty Index:.

For the Week: (Nov 09,2020– Nov 13,2020).

Weekly Low: 29,329.80.

COOL FMCG index has actually experienced muted purchasing in early part of the week. Nevertheless, index yielded in second half back of worldwide weak point. We expect index continue to remain under pressure, side methods restorative action to continue.

COOL FMCG Index closed the week on negative note losing 353.75 points 1.19%.

Presently NIFTY FMCG index is trading below 200 days exponential moving average and recommends long term pattern is bearish. EquityPandits expert anticipates range for the week is seen from 28800 on disadvantage and 30000 on benefit.

RESISTANCE 2.
30,576.

Technically on the day-to-day charts we see small support on the downside for NIFTY FMCG index lies at 29100 levels, whereas small resistance on the benefit is capped around 29800– 29900 levels.