Weekly Outlook on CNX FMCG and its main components (July 27,2015 - July 31,2015)

DATE: 24/07/2015

WEEKLY OUTLOOK FOR CNX FMCG AND

ITS MAIN COMPONENTS

(27/07/2015 - 31/07/2015)

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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 negative note losing around 1%. As we have mentioned last week that if the index cross above the levels of 20300 the index can move towards the levels of 21000. The index hit a high of around 20635 during the week and sold off to the levels of 20100 before closing the week around the levels of 20300. The index has taken the support around the zone of 20100 to 20200 where 100 Daily SMA, 200 Daily SMA and trend-line support are positioned. If the support level of 20000 broken the index can drift to the levels of 19500 to 19800 lev-els. Support for the index lies in the range of 19800 to 20100 where short term and long term moving averages are positioned. Resistance for the index lies in the zone of 20600. If the index manages to cross above the resistance zone of 20600 the index can move to the levels of 21000. Broad range for the index in the coming week is seen from 19700 on downside to 21000 on upside.

CNX FMCG


ITC closed the week on negative note losing more than 2%. As we have mentioned last week that the stock is approaching towards the strong resistance zone of 325 to 330 levels where 100 Daily SMA and 20 Weekly EMA are lying. The stock made a high of 323 levels and sold off to the levels of 310 during the week. The stock has formed a Bearish Harami pattern on weekly charts in an uptrend indicating the trend reversal. The stock has to sustain above the levels of 324 to negate this pattern. Support for the stock lies in the zone of 300 to 305 where 1000 Daily SMA and 200 Weekly SMA are lying. Resistance for the stock lies in the zone of 315 to 320 where 50 Daily EMA and 100 Daily SMA are lying. Broad range for the stock in coming week is seen between 300 to 305 on downside and 320 to 325 on upside.

ITC


HIND Unilever closed the week on negative note losing around 2%. As we have mentioned last week that the stock has been facing stiff resistance around the levels of 930 to 940 and the stock is selling off to the levels of sub 900. Also the stock has formed a Bearish engulfing pattern on daily charts. The stock has to close above the levels of 940 to negate this pattern. The stock sold off to the levels of 870 before recovering to the lev-els of 907 during the week. Since last 1 month the stock has been moving in the range of 870 on downside to 940 on up-side. It seems the stock is consolidating in the range before breaking out of the range. A break of the range on either side can take the stock further 4% - 5% in that direction. Support for the stock lies in the range of 870 to 890 where 100 Daily SMA and trend-line support are positioned. Resistance for the stock lies in the range of 930 to 940. Broad range for the stock in coming week is seen between 860 to 880 on downside and 930 to 950 on upside.

HIND UNILEVER


Dabur closed the week on positive note gaining more than 1%. As we have mentioned last week that the stock can face stiff resistance in the zone of 300 to 305 and during the week the stock hit a high of 304.5 and sold off to the levels of 296. The stock has formed a Shooting star pattern on weekly charts indicating the end of the up-trend in the stock. The stock has to sustain above the levels of 305 to negate this pattern. Support for the stock lies in the zone of 280 to 285 where short term, medium term moving averages and trend-line support are positioned. Resistance for the stock lies in the zone of 305 to 310 levels. Broad range for the stock is seen between 280 to 285 on lower end and 305 to 310 on upper end.

DABUR


Colgate Palmolive closed the week on positive note gaining more than 1%. As we have mentioned last week that if the stock manages to cross over the levels of 2060 the stock can move to the levels of 2100 to 2150 where upwards moving trend-line is posi-tioned. The stock hit a high of 2090 during the week and corrected to the levels of 2060. If the stock manages to close above the levels of 2090 the stock can move to the levels of 2150 where upward moving trend-line is positioned. Support for the stock lies in the zone of 2010 to 2030 where 100 Daily SMA and short term moving averages are lying. Resistance for the stock lies in the zone of 2090 to 2110. Broad range for the stock is seen between 2010 to 2030 on lower end and 2100 to 2120 on upper end.

COLGATE PALMOLIVE


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Weekly Outlook on CNX FMCG and its main components (July 27,2015 - July 31,2015)

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Transcript of Weekly Outlook on CNX FMCG and its main components (July 27,2015 - July 31,2015)