EquityPandit’s Outlook for NIFTY REALTY for the week  (June 18, 2018 – June 22, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 1.50%.

As we have mentioned last week, that support for the index lies in the zone of 290 to 292 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. During the week the index manages to hit a low of 287 and close the week around the levels of 288.

Support for the index lies in the zone of 270 to 275 where trend-line support for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 250 to 255.

Resistance for the index lies in the zone of 290 to 292 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 302 to 308 where short & medium term moving averages are lying.

Broad range for the index is seen between 260 to 265 on downside & 300 to 305 on upside.