EquityPandit’s Outlook for NIFTY REALTY for the week  (Sep 25, 2017 – Sep 29, 2017) :

NIFTY REALTY:

Nifty REALTY index closed the week on negative note losing around 4.80%.

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 271 and close the week around the levels of 273.

Support for the index lies in the zone of 268 to 270 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 and short term moving averages are lying. 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 260 to 262 on downside & 283 to 285 on upside.