Nifty FMCG Index Weekly Analysis 20-24 Jan 2020

Nifty FMCG Index 30 Min Chart 20-24 Jan 2020
Nifty FMCG Index 30 Min Chart 20-24 Jan 2020

Nifty FMCG Index rose around 0.28 percent in the week gone by 20 Jan – 24 Jan. 2020

Nifty FMCG Index rallied around 3.2 percent previous week. This week (20 Jan – 24 Jan 2020) Nifty FMCG Index was consolidating at higher levels and rose 0.28 percent.The index had 2 red days and 3 green days during the week.

Nifty FMCG Index opened around 31372 levels on Monday, made a high of 31546 on Monday itself, lowest levels of 30997 were touched on Wednesday and closed around 31456 on Friday (24.1.2020)

On Monday ( 20-1-2020) Nifty FMCG Index opened at 31372 levels which also turned out to be the lowest point of the day. The index moved higher in the morning session and touched a day high level of 31548 at around 9.30 am. The index consolidated between 31491-31380 levels for the rest of the day. The index closed the day at 31440 up 72 points or 0.23 percent.

On Tuesday (21-1-2020) Nifty FMCG Index opened with a gap down of 80 points at 31360 levels which also turned out to be the highest point of the day. The index trended downwards throughout the day with small pullbacks in between. The index fell 256 points from morning high levels to touch a day low level of 31100 at around 1.35 pm. The index closed the day at 31170 down 274 or 0.88 percent.

On Wednesday (22-1-2020) Nifty FMCG Index opened at opened at 31268 levels which also turned out to be the highest point of the day. The index consolidated between 31242-31050 levels throughout the day. The index closed the day at 31168 down 2 points or 0.01 percent.

On Thursday (23-1-2020) Nifty FMCG Index opened at 31145 levels and touched a day low level of 30993 on the first 5 minute candle. The index consolidated between 31160-31070 levels in the morning and afternoon session. The index broke its consolidating range in the late afternoon session and rallied 98 points from 31150 levels to touch a day high level of 31254 just before the closing bell. The index closed the day at 31240 up 76 points or 0.24 percent.

On Friday (24-1-2020) Nifty FMCG Index opened at 31224 levels and touched a day low level of 31183 on the first 5 minute candle. The index took support at 31200 levels and trended upwards for the rest of the day. The index rallied 342 points from day low levels to touch a day high level of 31525 at around 2.05 am. The index closed the day at 31456 up 215 points or 0.69 percent.

Nifty FMCG Index is trading around resistance level of 31500. If the index breaks this resistance level the index can rally towards 32487 levels. But if the index fails to cross 31500 l levels the index can fall towards 31055-30823 levels.

The highest gainer in the Nifty FMCG Index during the week was Jubilant Food gaining about 3.6 percent and the biggest loser was Emami Ltd down 4.6 percent during the week

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