EquityPandit’s Outlook for NIFTY REALTY for the week(April 29,2019 – May 03,2019):
NIFTY REALTY Index closed the week on negative note losing -6 Points -2.22%
Weekly High: 278.10
Weekly Low: 262.15
Weekly Close: 264.40
Nifty Reality has seen huge profit booking last week and index trading near to support levels. Technically on the daily charts we see minor support on the downside for index lies at 260- 259 levels, whereas minor resistance on the upside is capped around 269- 270 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 251- 250 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 279- 280
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 279- 280 on upside and 251- 250 on downside.