EquityPandit’s Outlook for NIFTY REALTY for the week(Aug 12, 2019 – Aug 16, 2019):
NIFTY REALTY Index closed the week on positive note gaining 3.05 Points 1.16%
Weekly High: 267.70
Weekly Low: 253.80
Weekly Close: 265.65
RESISTANCE 2: 276
RESISTANCE 1: 271
SUPPORT 1: 257
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 275– 280 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 220 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 320
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 320 on upside and 220 on downside.