EquityPandit’s Outlook for NIFTY REALTY for the week(June 01, 2019 – June 07, 2019):
NIFTY REALTY Index closed the week on positive note gaining +3.85 Points +1.37%
Technically on the daily charts we see minor support on the downside for index lies at 280– 279 levels, whereas minor resistance on the upside is capped around 289– 290 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 270– 268 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 300– 301
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 300– 301 on upside and 270– 268 on downside.