EquityPandit’s Outlook for NIFTY REALTY for the week  (May 29, 2017 – June 02, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 3.20%.

As we have mentioned last week that 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. During the week the index manages to hit a high of 269 and close the week around the levels of 256.

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.

Minor resistance for the index lies in the zone of 260 to 262. Resistance for the index lies in the zone of 266 to 268 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 274 to 276 where the index has formed a top in the month of May-2017.

Broad range for the index is seen between 245 to 247 on downside & 266 to 268 on upside.