Nifty FMCG Index Weekly Analysis 13-17 Jan 2020

Nifty FMCG Index 30 Min Chart 13-17 Jan 2020
Nifty FMCG Index 30 Min Chart 13-17 Jan 2020

Nifty FMCG Index rallied around 3.2 percent in the week gone by 13 Jan – 17 Jan. 2020

Nifty FMCG Index rose around 0.89 percent previous week. This week (13 Jan – 17 Jan 2020) Nifty FMCG Index gained heavy momentum on the upside and rallied 3.2 percent. The index was green on all 5 days of the week.

Nifty FMCG Index opened around 30461 levels on Monday, made a high of 30519 on Thursday, lowest levels of 30456 were touched on Monday itself and closed around 31369 on Friday (17.1.2020)

On Monday ( 13-1-2020) Nifty FMCG Index opened at 30460 levels and touched a low of 30450 on the first 5 minute candle, The index trended upwards throughout the session with small pullbacks in between . The index rallied 274 points from opening levels to touch a day high level of 30736 just before the closing bell. The index closed the day at 30715 up 250 points or 0.82 percent.

On Tuesday (14-1-2020) Nifty FMCG Index opened at 30800 levels and touched a low of 30695 on the first five minute candle. The index rallied 475 points from day low levels to touch a day high level of 31179 just before the closing bell. The up move was so strong that price never closed below 20 ema on a 5 minute timeframe.The index closed the day at 31164 up 470 points or 1.5 percent.

On Wednesday (15-1-2020) Nifty FMCG Index opened at 31185 levels and moved lower in the morning session to touch a day low level of 31010 at around 10.25 am. The index took support at 31000 levels and trended upwards for the rest of the day. The index rallied 260 points from 31000 levels to touch a day high level of 31277 just before the closing bell. The index closed the day at 31198 up 20 points or 0.06 percent.

On Thursday (16-1-2020) Nifty FMCG Index opened at 31259 levels and touched a low of 31228 on the first five minute candle which also turned out to be the lowest point of the day. The index rallied 251 points from opening levels to touch a day high level of 31508 at around 9.40 am. The index could not sustain above 31500 levels and fell 206 points from day high levels to trade around 31300 levels in the afternoon session. The index closed the day at 31312 up 117 points or 0.38 percent.

On Friday (17-1-2020) Nifty FMCG Index opened at 31372 levels and touched a low of 31314 on the first five minute candle which also turned out to be the lowest point of the day. The index rallied 116 points from opening levels and touched a day high level of 31490 at around 10.35 am. The index could not move any higher and fell 156 points from day high levels to trade around 31330 levels in the afternoon session. The index closed the day at 31369 up 57 points or 0.18 percent.

“We said in our previous weekly analysis post that if the index manages to cross 30370 levels it can rally towards 31500 levels. Well, the index did cross 30370 levels and rallied towards 31547 levels. So our analysis proved right once again.”

Nifty FMCG Index is trading around resistance level of 31419. If the index breaks this resistance level the index can rally towards 32492 levels. But if the index fails to cross 31419 levels the index can fall towards 30773 levels.”

The highest gainer in the Nifty FMCG Index during the week was Emami Ltd gaining about 16 percent and the biggest loser was Godrej Consumer Products down 2.1 percent during the week

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