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Informist, Friday, Jan. 16, 2026

MUMBAI – Shares of fast-moving consumer goods companies are expected to continue their underperformance next week, dragged down by index heavyweight ITC. The Nifty FMCG index is seen falling for the fourth consecutive week. However, some positivity is seen for shares of Hindustan Unilever amid the volatile market, analysts said.

Going ahead, the Nifty FMCG index is likely to take a halt at 51000-50600 points while resistance is seen around 53200 level, Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market, said. On Friday, the index closed lower by 0.2% at 52142.50 points.

The index fell nearly 1% this week and over 6% so far this month. On the other hand, the benchmark Nifty 50 index closed the week flat and declined just 1.7% so far this month. Friday, the Nifty 50 closed 0.1% higher at 25694.35 points.

"In the current volatile market environment, fund flows are increasingly gravitating towards defensive stocks and Hindustan Unilever stands out as a preferred choice within the FMCG space," ICICI Direct said in a report. After snapping a four-week-long rising run, the stock closed lower this week. Friday, it ended 0.3% higher at INR 2,360.40.

"On the futures front, the stock has witnessed substantial OI (open interest) addition, wherein futures OI (open interest) almost doubling from its December lows. The options structure further supports the positive bias," ICICI Direct said in the report. 

Traders sold out-of-the-money put options of HUL, indicating limited downside risk from the current level. The highest addition and concentration of open interest was at INR 2,300 put strike expiring on Jan. 27, with its premium falling almost 32%, suggesting strong support at lower levels. ICICI Direct expects the stock to trade with a positive bias and move towards INR 2,465 level.

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Following are the resistance and support levels for key FMCG stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by Simran Rede

Edited by Ashish Shirke

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