EquityPandit’s Outlook for NIFTY REALTY for the week  (Oct 01, 2018 – Oct 05, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 11.70%.

As we have mentioned last week, that 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. During the week the index manages to hit a low of 218 and close the week around the levels of 220.

Support for the index lies in the zone of 215 to 220 from where the index broke out in the year 2016. If the index manages to close below these levels then the index can witness a freefall and can drift to the levels of 195 to 200.

Minor resistance for the index lies in the zone of 225 to 230. Resistance for the index lies in the zone of 235 to 240 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 245 to 250 from where the index broke down from July-2018 lows.

Broad range for the index is seen between 200 to 205 on downside & 240 to 245 on upside.