EquityPandit’s Outlook for NIFTY REALTY for the week(July 8, 2019 – July 12, 2019):
NIFTY REALTY Index closed the week on negative note loosing –2.70 Points –0.95 %
Weekly High: 295.50
Weekly Low: 281.00
Weekly Close: 282.10
RESISTANCE 2: 301
RESISTANCE 1: 291
SUPPORT 1: 277
SUPPORT 2: 272
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 277 levels, whereas minor resistance on the upside is capped around 288– 290 levels.
If NIFTY REALITY 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 265 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 295
Currently NIFTY REALITY index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 295 on upside and 265 on downside.