EquityPandit’s Outlook for NIFTY REALTY for the week  (Sep 24, 2018 – Sep 28, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 6.60%.

As we have mentioned last week, that minor resistance for the index lies in the zone of 268 to 270. Resistance for the index lies in the zone of 275 to 280 where trend-line resistance for the index and high for the month of July-2018 are lying. If the index manages to close above these levels then the index can move to the levels of 288 to 290 where Fibonacci levels are lying. During the week the index manages to hit a high of 271 and close the week around the levels of 249.

Support for the index lies in the zone of 245 to 250 where the index has taken support in the month of August-2017 and July-2018. If the index manages to close below these levels then the index can drift to the levels of 220 to 230 where long term Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 258 to 260. Resistance for the index lies in the zone of 265 to 268 from where the index has broken down from August-2018 lows. If the index manages to close above these levels then the index can move to the levels of 275 to 280 where Fibonacci levels are lying.

Broad range for the index is seen between 230 to 235 on downside & 260 to 265 on upside.