EquityPandit’s Outlook for NIFTY REALTY for the week  (Feb 05, 2018 – Feb 09, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 8.30%.

As we have mentioned last week, that resistance for the index lies in the zone of 355 to 360 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 375 to 380. During the week the index manages to hit a high of 354 and close the week around the levels of 321.

Support for the index lies in the zone of 305 to 310 where the index has taken support in the month of December-2017 and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 290 to 295 where Fibonacci levels and long term moving averages are lying.

Resistance for the index lies in the zone of 335 to 338 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 355 to 360 from where the index has broken down.

Broad range for the index is seen between 300 to 305 on downside & 335 to 340 on upside.