EquityPandit’s Outlook for NIFTY REALTY for the week(Aug 26, 2019 – Aug 30, 2019):
NIFTY REALTY Index closed the week on negative note loosing -20.55 Points -7.75%
Weekly High: 269.35
Weekly Low: 235.95
Weekly Close: 244.55
RESISTANCE 2: 283
RESISTANCE 1: 264
SUPPORT 1: 231
SUPPORT 2: 217
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 237 levels, whereas minor resistance on the upside is capped around 253– 254 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 270
Currently NIFTY REALITY index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 270 on upside and 220 on downside.