EquityPandit’s Outlook for NIFTY REALTY for the week  (Oct 23, 2017 – Oct 27, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 1.60%.

As we have mentioned last week, that 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. During the week the index manages to hit a high of 290 and close the week around the levels of 287.

Minor support for the index lies in the zone of 280 to 282. Support for the index lies in the zone of 274 to 276 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 289 to 291 where long term Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 300 to 302.

Broad range for the index is seen between 274 to 276 on downside & 300 to 302 on upside.