EquityPandit’s Outlook for NIFTY REALTY for the week  (Jan 15, 2018 – Jan 19, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 5.60%.

As we have mentioned last week, that resistance for the index lies in the zone of 350 to 355. If the index manages to close above these levels then the index can move to the levels of 380 to 385 where long term Fibonacci levels are lying. During the week the index manages to hit a high of 375 and close the week around the levels of 367.

Support for the index lies in the zone of 350 to 355 where break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 335 to 338 where long term Fibonacci levels are lying.

Minor resistance for the index lies in the zone of 370 to 375. Resistance for the index lies in the zone of 380 to 385 where long term Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 400 to 405.

Broad range for the index is seen between 340 to 345 on downside & 385 to 390 on upside.