EquityPandit’s Outlook for NIFTY REALTY for the week  (Mar 26, 2018 – Mar 28, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 7.00%.

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 291 and close the week around the levels of 293.

Support for the index lies in the zone of 290 to 295 where Fibonacci levels and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 260 to 265 where low for the month of September-2017 is lying.

Resistance for the index lies in the zone of 300 to 305 from where the index broke down from the double bottom pattern and long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 315 to 320 from where the index has broken down.

Broad range for the index is seen between 270 to 275 on downside & 310 to 315 on upside.