Cnx fmcg weekly report 06 07-2015 to 10-07-2015

DATE: 04/07/2015

WEEKLY OUTLOOK FOR CNX FMCG AND

ITS MAIN COMPONENTS

(06/07/2015 - 10/07/2015)

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Jagrut Shah Darpan Shah Sr. Research Analyst Head - Research EquityPandit Financial Services Pvt. Ltd. 305, Trinity Business Centre, L. P. Savani Road, Surat - 395009 Gujarat

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CNX FMCG index closed the week on positive note gaining around 4%. The index outperformed all the indices this week and gained around 4%. The index is approaching towards the strong resistance zone of 20300 to 20500 where 100 Daily SMA and downward sloping trend-line are positioned. Above the levels of 20500 the index can move towards the levels of 21000. Support for the index lies in the zone of 19600 to 19800 where short term moving averages and trend-line are positioned. Broad range for the index in the coming week is seen from 19500 on downside to 20500 on upside.

CNX FMCG


ITC closed the week on positive note gaining more than 3%. As we have suggested last week that the stock has formed a Shooting Star pattern on weekly charts in uptrend indicating the trend reversal and a close above the levels of 318 to negate this pattern. This week the stock could not able to sustain over the levels of 318. As seen from the chart the stock is trading around the strong resistance zone of 317 where downward sloping channel and trend-line are positioned. If the stock moves above the levels of 320 we may see stock moving towards the zone of 335 where 100 Daily SMA is positioned. Support for the stock lies in the range of 305 to 310 where Short term moving averages are lying. Broad range for the stock in coming week is seen between 280 to 290 on downside and 320 to 330 on upside.

ITC


HIND Unilever closed the week on positive note gaining more than 6%. As we have suggested last week that the stock has formed a double top formation around the levels of 905. A break above the levels of 905 can take the stock to the levels of 930 where downward sloping trend-line resistance is lying. The stock hit a high of 929.50 on 03/07/2015. If the stock manages to close above the levels 932 we may see stock moving towards the lev-els of 960 to 980 levels. Support for the stock lies in the range of 880 to 900 where short term moving averages are lying. Broad range for the stock in coming week is seen between 860 to 880 on downside and 940 to 960 on upside.

HIND UNILEVER


Dabur closed the week on positive note gaining around 5%. As we have suggested last week that if the stock manages to close above the levels of 275 we may see stock moving towards the 285 to 290 levels. The stock manages to hit the high of 287.40 levels on 03/07/2015. If the stock manages to close above the levels of 288 we may see stock moving towards the levels of 300. Support for the stock lies in the zone of 270 to 275 where short term and medium term mov-ing averages are positioned. Broad range for the stock is seen between 265 to 270 on lower end and 295 to 300 on upper end.

DABUR


Colgate Palmolive closed the week on positive note gaining around 4%. As we have suggested last week that if the stock manages to close above the levels of 2033 we may see stock moving towards the levels of 2080 where upward moving trend-line is po-sitioned. During the week the stock hit the high of 2069 levels on 01/07/2015. If the stock manages to close above the levels of 2070 we may see stock moving towards the levels of 2150 where upward sloping trend-line is positioned. Support for the stock lies in the zone of 1970 to 2000 where short term moving averages and 100 Daily SMA is lying. Broad range for the stock is seen between 1950 to 1970 on lower end and 2080 to 2120 on upper end.

COLGATE PALMOLIVE


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Cnx fmcg weekly report 06 07-2015 to 10-07-2015

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