EquityPandit’s Outlook for NIFTY REALTY for the week  (Dec 26, 2017 – Dec 29, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 5.00%.

As we have mentioned last week, that minor support for the index lies in the zone of 313 to 315. Support for the index lies in the zone of 303 to 305 from where the index has opened gap up 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 292 to 295 where long term Fibonacci levels are lying. During the week the index manages to hit a low of 305 and close the week around the levels of 333.

Minor support for the index lies in the zone of 327 to 329. Support for the index lies in the zone of 315 to 317 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 303 to 305 from where the index has opened gap up and short term moving averages are lying.

Resistance for the index lies in the zone of 335 to 338 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 345 to 350.

Broad range for the index is seen between 315 to 320 on downside & 345 to 350 on upside.