EquityPandit’s Outlook for NIFTY REALTY for the week  (Oct 08, 2018 – Oct 12, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 5.00%.

As we have mentioned last week, that support for the index lies in the zone of 215 to 220 from where the index broke out in the year 2016. 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. During the week the index manages to hit a low of 206 and close the week around the levels of 209.

Support for the index lies in the zone of 195 to 200. If the index manages to close below these levels then the index can witness a freefall and can drift to the levels of 175 to 180.

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.

Broad range for the index is seen between 190 to 195 on downside & 220 to 225 on upside.