EquityPandit’s Outlook for NIFTY REALTY for the week  (Nov 19, 2018 – Nov 23, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 1.80%.

As we have mentioned last week, that resistance for the index lies in the zone of 227 to 230 where short term moving averages and Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 237 to 240 where Fibonacci levels are lying. During the week the index manages to hit a high of 228 and close the week around the levels of 222.

Support for the index lies in the zone of 215 to 220 from where the index broke out of October-2018 high and Fibonacci levels are lying. 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 where low for the month of October-2018 is lying.

Resistance for the index lies in the zone of 227 to 230 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 237 to 240 where Fibonacci levels are lying.

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