EquityPandit’s Outlook for NIFTY REALTY for the week (Mar 05, 2019 – Mar 08, 2019) :
NIFTY REALTY Index closed the week on positive note gaining +6.25 Points (+2.71%).
Weekly High: 239.30
Weekly Low: 229.50
Weekly Close: 236.50
Technically on the daily charts we see minor support on the downside for index lies at 220- 210 levels, where as minor resistance on the upside is capped around 245- 255 levels.
If Nifty REALTY index breaches minor support on the downside and closes below it we may see fresh break down and index can drag index towards major support on lower side around 200- 190 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and index can head towards higher levels around 260- 270
Currently Nifty REALTY index is trading below 200 days exponential moving average suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 260- 270 on upside and 200- 190 on downside.