EquityPandit’s Outlook for NIFTY REALTY for the week  (Nov 05, 2018 – Nov 09, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 0.50%.

As we have mentioned last week, that minor resistance for the index lies in the zone of 212 to 215. Resistance for the index lies in the zone of 218 to 220 from where the index broke down from September-2018 lows. If the index manages to close above these levels then the index can move to the levels of 225 to 230. During the week the index manages to hit a high of 225 and close the week around the levels of 221.

Support for the index lies in the zone of 215 to 220 from where the index broke out of October-2018 high and Fibonacci levels are lying. If the index manages to close below these levels then the index can witness a freefall and can drift to the levels of 195 to 200 where low for the month of October-2018 is lying.

Resistance for the index lies in the zone of 225 to 230 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 245 to 250 where long term Fibonacci levels and medium term moving averages are lying.

Broad range for the index is seen between 195 to 200 on downside & 240 to 245 on upside.