EquityPandit’s Outlook for NIFTY REALTY for the week  (June 19, 2017 – June 23, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 4 .30%.

As we have mentioned last week that minor support for the index lies in the zone of 255 to 257. Support for the index lies in the zone of 250 to 252 where the index has taken multiple support. If the index manages to close below these levels then the index can drift to the levels of 246 to 248 where declining trend-line support for the index is lying. During the week the index manages to hit a low of 258 and close the week around the levels of 271.

Minor support for the index lies in the zone of 266 to 268. Support for the index lies in the zone of 258 to 260 where breakout levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 250 to 252 where the index has taken multiple support.

Resistance for the index lies in the zone of 274 to 276 where the index has formed a top in the month of May-2017. If the index manages to close above these levels then the index can move to the levels of 280 to 282.

Broad range for the index is seen between 260 to 262 on downside & 280 to 282 on upside.