EquityPandit’s Outlook for NIFTY REALTY for the week  (May 22, 2017 – May 26, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 1.80%.

As we have mentioned last week that 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. During the week the index manages to hit a low of 259 and close the week around the levels of 264.50.

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.

Minor resistance for the index lies in the zone of 267 to 268. 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 255 to 257 on downside & 272 to 275 on upside.