EquityPandit’s Outlook for NIFTY REALTY for the week  (Nov 20, 2017 – Nov 24, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 2.20%.

As we have mentioned last week, that minor resistance for the index lies in the zone of 312 to 315. 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. During the week the index manages to hit a high of 316 and close the week around the levels of 313.

Minor support for the index lies in the zone of 303 to 306. Support for the index lies in the zone of 290 to 293 where long term Fibonacci levels 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 283 to 285 where medium term moving averages.

Minor resistance for the index lies in the zone of 312 to 315. 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 295 to 300 on downside & 330 to 335 on upside.