EquityPandit’s Outlook for NIFTY REALTY for the week  (July 31, 2017 – Aug 04, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 0.50%.

As we have mentioned last week, that resistance for the index lies in the zone of 280 to 282. If the index manages to close above these levels then the index can move to the levels of 290 to 292 where long term Fibonacci levels are lying. During the week the index manages to hit a high of 289 and close the week around the levels of 281.

Minor support for the index lies in the zone of 275 to 276. Support for the index lies in the zone of 264 to 266 where break out levels for the index and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 258 to 260 where breakout level for the index is lying.

Resistance for the index lies in the zone of 280 to 282. If the index manages to close above these levels then the index can move to the levels of 290 to 292 where long term Fibonacci levels are lying.

Broad range for the index is seen between 270 to 272 on downside & 290 to 292 on upside.