EquityPandit’s Outlook for NIFTY REALTY for the week  (July 23, 2018 – July 27, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 3.70%.

As we have mentioned last week, that support for the index lies in the zone of 260 to 265 from where the index has broken out in the month of April-2017. If the index manages to close below these levels then the index can drift to the levels of 250 to 255. During the week the index manages to hit a low of 251 and close the week around the levels of 257.

Support for the index lies in the zone of 250 to 255 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 215 to 220 where long term Fibonacci levels are lying.

Resistance for the index lies in the zone of 260 to 265 from where the index has broken down from the June-2018 lows. If the index manages to close above these levels then the index can move to the levels of 275 to 280 where trend-line resistance for the index is lying.

Broad range for the index is seen between 230 to 235 on downside & 270 to 275 on upside.