EquityPandit’s Outlook for NIFTY REALTY for the week  ( Jan 01, 2018 – Jan 05, 2018) : 

NIFTY REALTY:

Nifty REALTY index closed the week on positive note gaining around 3.60%.

As we have mentioned last week, that resistance for the index lies in the zone of 335 to 338 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 345 to 350. During the week the index manages to hit a high of 349 and close the week around the levels of 345.

Support for the index lies in the zone of 335 to 338 where long term Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 325 to 330 where break out levels are lying.

Resistance for the index lies in the zone of 345 to 350. If the index manages to close above these levels then the index can move to the levels of 380 to 385 where long term Fibonacci levels are lying.

Broad range for the index is seen between 330 to 335 on downside & 365 to 370 on upside.