EquityPandit’s Outlook for NIFTY REALTY for the week  (Mar 12, 2018 – Mar 16, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 2.80%.

As we have mentioned last week, that minor support for the index lies in the zone of 315 to 320. Support for the index lies in the zone of 305 to 310 where the index has taken support in the month of December-2017. If the index manages to close below these levels then the index can drift to the levels of 290 to 295 where Fibonacci levels and long term moving averages are lying. During the week the index manages to hit a low of 307 and close the week around the levels of 316.

Minor support for the index lies in the zone of 315 to 320. Support for the index lies in the zone of 305 to 310 where the index has taken support in the month of December-2017. If the index manages to close below these levels then the index can drift to the levels of 290 to 295 where Fibonacci levels and long term moving averages are lying.

Minor resistance for the index lies in the zone of 325 to 328. Resistance for the index lies in the zone of 335 to 338 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 355 to 360 from where the index has broken down.

Broad range for the index is seen between 300 to 305 on downside & 330 to 335 on upside.