EquityPandit’s Outlook for NIFTY REALTY for the week  (Nov 06, 2017 – Nov 10, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 8.50%.

As we have mentioned last week, that resistance for the index lies in the zone of 289 to 291 where long term Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 300 to 302. During the week the index manages to hit a high of 317 and close the week around the levels of 315.

Minor support for the index lies in the zone of 305 to 308. Support for the index lies in the zone of 289 to 291 where long term Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 283 to 285 where short term moving averages.

Resistance for the index lies in the zone of 318 to 320. If the index manages to close above these levels then the index can move to the levels of 335 to 338 where long term Fibonacci levels are lying.

Broad range for the index is seen between 290 to 295 on downside & 335 to 340 on upside.