EquityPandit’s Outlook for NIFTY REALTY for the week (March 20, 2017 – March 24, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 4.90%.

As we have mentioned last week that minor resistance for the index lies in the zone of 200 to 202. Resistance for the index lies in the zone of 208 to 212 from where the index sold off in the month of November-2016. If the index manages to close above these levels then the index can move to the levels of 216 to 218 where the index has formed a top in the month of September-2016. During the week the index manages to hit a high of 209 and close the week around the levels of 208.

Minor support for the index lies in the zone of 203 to 205. Support for the index lies in the zone of 200 to 201 where the gap is lying on gap up opening. If the index manages to close below these levels then the index can drift to the levels of 195 to 197 from where the index broke out of February-2017 highs..

Resistance for the index lies in the zone of 208 to 212 from where the index sold off in the month of November-2016. If the index manages to close above these levels then the index can move to the levels of 216 to 218 where the index has formed a top in the month of September-2016.

Broad range for the index is seen between 198 to 200 on downside & 216 to 218 on upside.