EquityPandit’s Outlook for NIFTY REALTY for the week  (Jan 22, 2018 – Jan 25, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 5.40%.

As we have mentioned last week, that support for the index lies in the zone of 350 to 355 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 335 to 338 where long term Fibonacci levels are lying. During the week the index manages to hit a low of 341 and close the week around the levels of 347.

Support for the index lies in the zone of 335 to 338 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 325 to 330 where break out levels and short term moving averages are lying.

Resistance for the index lies in the zone of 355 to 360 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 375 to 380.

Broad range for the index is seen between 320 to 325 on downside & 365 to 370 on upside.