EquityPandit’s Outlook for NIFTY REALTY for the week  (Dec 18, 2017 – Dec 22, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 1.90%.

As we have mentioned last week, that minor support for the index lies in the zone of 313 to 315. Support for the index lies in the zone of 300 to 303 from where the index has opened gap up. If the index manages to close below these levels then the index can drift to the levels of 292 to 295 where long term Fibonacci levels and short term moving averages are lying. During the week the index manages to hit a low of 309 and close the week around the levels of 317.

Minor support for the index lies in the zone of 313 to 315. Support for the index lies in the zone of 303 to 305 from where the index has opened gap up and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 292 to 295 where long term Fibonacci levels are lying.

Resistance for the index lies in the zone of 320 to 325. If the index manages to close above these levels then the index can move to the levels of 335 to 338 where long term Fibonacci levels are lying.

Broad range for the index is seen between 305 to 310 on downside & 335 to 340 on upside.