EquityPandit’s Outlook for NIFTY REALTY for the week  (Nov 13, 2017 – Nov 17, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 2.60%.

As we have mentioned last week, that minor support for the index lies in the zone of 305 to 308. Support for the index lies in the zone of 289 to 291 where long term Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 283 to 285 where short term moving averages. During the week the index manages to hit a low of 303 and close the week around the levels of 306.

Minor support for the index lies in the zone of 300 to 303. Support for the index lies in the zone of 289 to 291 where long term Fibonacci levels and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 283 to 285 where mdium term moving averages.

Minor resistance for the index lies in the zone of 312 to 315. Resistance for the index lies in the zone of 318 to 320. If the index manages to close above these levels then the index can move to the levels of 335 to 338 where long term Fibonacci levels are lying.

Broad range for the index is seen between 290 to 295 on downside & 325 to 330 on upside.