EquityPandit’s Outlook for NIFTY REALTY for the week (Mar 18, 2019 – Mar 22, 2019) :
NIFTY REALTY Index closed the week on positive note gaining +15.10 Points (+6.38%).
Weekly High: 254.00
Weekly Low: 234.75
Weekly Close: 251.60
Index finally managed to closed above 200 EMA, We may see uptrend to continue in nifty reality, in the upcoming week we can see buying in reality stocks. Technically on the daily charts we see minor support on the downside for index lies at 230- 240 levels, whereas minor resistance on the upside is capped around 270- 280 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 290- 300
Currently Nifty REALTY index is trading above 200 days exponential moving average suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 290- 300 on upside and 200- 190 on downside.