EquityPandit’s Outlook for NIFTY REALTY for the week  (Sep 18, 2017 – Sep 22, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 0.60%.

As we have mentioned last week, that 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 268 to 270 where medium term moving averages are lying. During the week the index manages to hit a low of 283.50 and close the week around the levels of 287.

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 268 to 270 where medium term moving averages are lying.

Minor resistance for the index lies in the zone of 287 to 288. 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 275 to 277 on downside & 295 to 297 on upside.