EquityPandit’s Outlook for NIFTY REALTY for the week  (Oct 16, 2017 – Oct 19, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 1.50%.

As we have mentioned last week, that minor support for the index lies in the zone of 275 to 276. Support for the index lies in the zone of 270 to 272 where medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 258 to 260 from where the index broke out of channel resistance. During the week the index manages to hit a low of 276 and close the week around the levels of 282.55

Minor support for the index lies in the zone of 275 to 276. Support for the index lies in the zone of 270 to 272 where medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 258 to 260 from where the index broke out of channel resistance.

Resistance for the index lies in the zone of 281 to 283 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 289 to 291 where long term Fibonacci levels are lying.

Broad range for the index is seen between 268 to 270 on downside & 290 to 292 on upside.