EquityPandit’s Outlook for NIFTY REALTY for the week  (May 15, 2017 – May 19, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 5.50%.

As we have mentioned last week that resistance for the index lies in the zone of 258 to 260. If the index manages to close above these levels then the index can move to the levels of 268 to 270. During the week the index manages to hit a high of 272 and close the week around the levels of 269.50.

Support for the index lies in the zone of 260 to 262 from where the index broke out of April-2017 highs. 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 272 to 273. 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 & 282 to 285 on upside.