EquityPandit’s Outlook for NIFTY REALTY for the week  (Sep 04, 2017 – Sep 08, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 5.10%.

As we have mentioned last week, that resistance for the index lies in the zone of 275 to 278 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 284 to 286 from where the index has sold off. During the week the index manages to hit a high of 289 and close the week around the levels of 288.

Minor support for the index lies in the zone of 284 to 286. Support for the index lies in the zone of 278 to 280 from where the index broke out after consolidation. If the index manages to close below these levels then the index can drift to the levels of 270 to 272 where short term moving averages are lying.

Resistance for the index lies in the zone of 290 to 292 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 310 to 312 from where the index has sold off in the month of Jan-2013.

Broad range for the index is seen between 278 to 280 on downside & 300 to 302 on upside.