EquityPandit’s Outlook for NIFTY REALTY for the week  (May 28, 2018 – June 01, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 2.90%.

As we have mentioned last week, that support for the index lies in the zone of 300 to 303 where break out levels are lying. 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 break out levels are lying. During the week the index manages to hit a low of 289 and close the week around the levels of 294.

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 270 to 275 where trend-line support for the index is lying.

Resistance for the index lies in the zone of 302 to 308 where medium 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 and long term moving averages are lying.

Broad range for the index is seen between 280 to 285 on downside & 310 to 315 on upside.