EquityPandit’s Outlook for NIFTY REALTY for the week  (June 04, 2018 – June 08, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 1.30%.

As we have mentioned last week, that resistance for the index lies in the zone of 302 to 308 where medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 315 to 320 from where the index has broken down and long term moving averages are lying. During the week the index manages to hit a high of 301 and close the week around the levels of 291.

Support for the index lies in the zone of 290 to 292 where Fibonacci levels and break out levels are lying. If the index manages to close below these levels then the index can drift to the levels of 270 to 275 where trend-line support for the index is lying.

Resistance for the index lies in the zone of 302 to 308 where medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 315 to 320 from where the index has broken down and long term moving averages are lying.

Broad range for the index is seen between 270 to 275 on downside & 310 to 315 on upside.