EquityPandit’s Outlook for NIFTY REALTY for the week  (Feb 12, 2018 – Feb 16, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 2.20%.

As we have mentioned last week, that 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. During the week the index manages to hit a low of 300 and close the week around the levels of 328.

Support for the index lies in the zone of 305 to 310 where the index has taken support in the month of December-2017. 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 & 340 to 345 on upside.