EquityPandit’s Outlook for NIFTY REALTY for the week(Aug 05, 2019 – Aug 09, 2019):
NIFTY REALTY Index closed the week on negative note loosing –11.80 Points –4.30%
Weekly High: 273.90
Weekly Low: 256.95
Weekly Close: 262.60
RESISTANCE 2: 281
RESISTANCE 1: 272
SUPPORT 1: 255
SUPPORT 2: 248
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 251 levels, whereas minor resistance on the upside is capped around 270– 271 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 240 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 285
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 285 on upside and 240 on downside.