EquityPandit’s Outlook for NIFTY REALTY for the week (February 06, 2017 – February 10, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 5.00%.

Minor support for the index lies in the zone of 186 to 188. Support for the index lies in the zone of 183 to 185 from where the index broke out from double top pattern. If the index manages to close below these levels then the index can drift to the levels of 174 to 176 where the index has taken multiple support in the month of January-2017.

Resistance for the index lies in the zone of 194 to 195 where the index has broken down from double bottom pattern and also gap has been created on gap down opening on 09-11-2016. If the index manages to close above these levels then the index can move to the levels of 205 to 210 from where the index sold off in the month of November-2016.

Broad range for the index is seen between 180 to 181 on downside to 200 to 201 on upside.