EquityPandit’s Outlook for NIFTY REALTY for the week(Sept 2, 2019 – Sept 6, 2019):
NIFTY REALTY Index closed the week on positive note gaining 22.65 Points 9.26%
Weekly High: 267.95
Weekly Low: 242.55
Weekly Close: 267.20
RESISTANCE 2: 285
RESISTANCE 1: 276
SUPPORT 1: 251
SUPPORT 2: 234
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 250 levels, whereas minor resistance on the upside is capped around 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 236 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 294
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 294 on upside and 236 on downside.