EquityPandit’s Outlook for NIFTY REALTY for the week  (May 07, 2018 – May 11, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 2.20%.

As we have mentioned last week, that resistance for the index lies in the zone of 315 to 320 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 325 to 330 where the index has formed a high in the month of March-2018 and medium term moving averages are lying. During the week the index manages to hit a high of 324 and close the week around the levels of 310.

Support for the index lies in the zone of 300 to 305 where break out levels and long term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 290 to 295 where Fibonacci levels and break out levels are lying.

Resistance for the index lies in the zone of 315 to 320 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 325 to 330 where the index has formed a high in the month of March-2018 and medium term moving averages are lying.

Broad range for the index is seen between 295 to 300 on downside & 325 to 330 on upside.