Weekly Outlook for Nifty FMCG and its main components (March 08, 2016 to March 11, 2016)

DATE: 04/03/2016
WEEKLY OUTLOOK FOR
NIFTY FMCG AND
ITS MAIN COMPONENTS
(08/03/2016 - 11/03/2016)
© EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com
Jagrut Shah Darpan Shah
Sr. Research Analyst Head - Research
EquityPandit Financial Services Pvt. Ltd.
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Nifty FMCG index closed the week on positive note gaining around 4.90%.
As we have mentioned last week that resistance for the index lies in the zone of 18600 to
18700 where trend-line joining lows on 13-10-14 and 15-06-15 is lying. If the index manages
to close above this levels then the index can move to the levels of 19400 where 500 Daily
SMA is lying. During the week the index manages to hit a high of 19666 and close the week
around the levels of 19191.
The index has closed around the strong resistance zone of 19500 to 19600 where 100 & 500
Daily SMA and channel resistance is lying. If the index manages to close above this levels
then the index can move to the levels of 19800 to 20000 where 200 Daily SMA is lying.
Minor support for the index lies in the zone of 18600 to 18800 where the index has formed a
short term top. If the index manages close below this levels then the index can drift to the
levels of 17200 to 17500 where 1000 Daily SMA and 200 Weekly SMA is lying.
Broad range for the index in the coming week is seen from 18500 on downside to 19800 on
upside.
NIFTY FMCG

ITC closed the week on positive note gaining around 8.30%.
As we have mentioned last week that the stock has closed around the support zone of 290 to
295 where the stock had made a medium term bottom. If the stock manages to close below
this levels on weekly basis then the stock will break down from the major support channel in
which the stock is moving since August - 2013. A close below this levels can trigger a freefall
in the stock and no major support is visible and stock can drift to the levels of 270. During
the week the stock manages to hit a low of 268 and bounce to close the week around the lev-
els of 315.
Support for the stock lies in the zone of 310 to 315 where short term moving averages are
lying. If the stock manages to close below this levels then the stock can drift to the levels of
295 to 300 where the stock had opened a gap up on 01-03-2016.
Resistance for the stock lies in the zone of 320 to 325 where 100 & 200 Daily SMA is lying. If
the stock manages to close above this levels then the stock can move to the levels of 340
where 500 Daily SMA is lying.
Broad range for the stock in coming week is seen between 300 to 305 on downside and 325
to 330 on upside.
ITC

HIND Unilever closed the week on absolutely flat note.
As we have mentioned last week that support for the stock lies in the zone of 840 where 200
Daily SMA is lying. If the stock manages to close below this levels then the stock can drift to
the levels of 815 where 100 Daily SMA is lying. During the week the stock manages to hit a
low of 818 and bounce to close the week around the levels of 848.
Support for the stock lies in the zone of 840 where 200 Daily SMA is lying. If the stock man-
ages to close below this levels then the stock can drift to the levels of 815 where 100 Daily
SMA is lying.
Minor resistance for the stock lies in the zone of 870 from where the stock sold off in the
month of Dec-2015 and Feb-2016. If the stock manages to close above this levels then the
stock can move to the levels of 880 where trend-line joining earlier highs is positioned.
Broad range for the stock in coming week is seen between 820 to 830 on downside and 870
to 880 on upside.
HIND UNILEVER

Dabur closed the week on positive note gaining around 3.40%.
As we have mentioned last week that resistance for the stock lies in the zone of 250 from
where the stock has broken down from the large Head & Shoulder pattern which the stock
has formed during the whole 2015. If the stock closes above this levels then the stock can
move to the levels of 260 to 270 where short term moving averages are positioned. During
the week the stock manages to hit a high of 253 and close the week around the levels of 249.
Resistance for the stock lies in the zone of 250 from where the stock has broken down from
the large Head & Shoulder pattern which the stock has formed during the whole 2015. If the
stock closes above this levels then the stock can move to the levels of 260 to 270 where short
term moving averages are positioned.
Support for the stock lies in the zone of 235 to 240 where 500 Daily SMA and 100 Weekly
SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 175
to 180 where lies the target for the broken Head & Shoulder pattern.
Broad range for the stock is seen between 230 to 235 on lower end and 250 to 255 on upper
end.
DABUR

Colgate Palmolive closed the week on positive note gaining around 1.70%.
As we have mentioned last week that support for the stock lies in the zone of 810 to 815
where the stock has formed a short term bottom. If the stock closes below this levels then the
stock can drift to the levels of 760 to 770 where 1000 Daily SMA and 200 Weekly SMA is ly-
ing. During the week the stock manages to hit a low of 808 and bounce to close the week
around the levels of 846.
Support for the stock lies in the zone of 810 to 815 where the stock has formed a short term
bottom. If the stock closes below this levels then the stock can drift to the levels of 760 to
770 where 1000 Daily SMA and 200 Weekly SMA is lying.
Resistance for the stock lies in the zone of 850 to 860 from where the stock has broken
down. If the stock manages to close above this levels then the stock can move to the levels of
880 to 890 where short term moving averages, 500 Daily SMA and 100 Weekly SMA is lying.
Broad range for the stock is seen between 810 to 815 on lower end and 870 to 880 on upper
end.
COLGATE PALMOLIVE

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Disclaimer:
The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities
mentioned. No representations can be made that the recommendations contained herein will be profitable or
that they will not result in losses. Readers using the information contained herein are solely responsible for
their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy
and completeness. Minimum amount mentioned here depends upon stock prices and market conditions and
will vary accordingly.

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Weekly Outlook for Nifty FMCG and its main components (March 08, 2016 to March 11, 2016)

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