EquityPandit’s Outlook for NIFTY REALTY for the week (April 08, 2019 – April 12, 2019):
NIFTY REALTY Index closed the week on positive note gaining +6.80 Points (+2.53%).
Weekly High: 279.55
Weekly Low: 264.55
Weekly Close: 276.00
Nifty Realty Index is on verge of technical breakout, we may buying in realty sector once index sustains above 280 levels. Technically on the daily charts we see minor support on the downside for index lies at 260- 262 levels, whereas minor resistance on the upside is capped around 277-280 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 250 -252 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- 295
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- 295 on upside and 250- 252 on downside.