EquityPandit’s Outlook for NIFTY REALTY for the week  (Apr 16, 2018 – Apr 20, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 0.80%.

As we have mentioned last week, that resistance for the index lies in the zone of 300 to 305 from where the index broke down from the double bottom pattern and long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 315 to 320 from where the index has broken down. During the week the index manages to hit a high of 308 and close the week around the levels of 301.

Support for the index lies in the zone of 290 to 295 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 260 to 265 where low for the month of September-2017 is lying.

Resistance for the index lies in the zone of 300 to 305 from where the index broke down from the double bottom pattern and long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 315 to 320 from where the index has broken down.

Broad range for the index is seen between 280 to 285 on downside & 310 to 315 on upside.