EquityPandit’s Outlook for NIFTY REALTY for the week(Sept 23, 2019 – Sept 27, 2019):
NIFTY REALTY Index closed the week on negative note loosing -2.80 Points -1.04%
Weekly High: 269.10
Weekly Low: 251.95
Weekly Close: 265.30
RESISTANCE 2: 279
RESISTANCE 1: 272
SUPPORT 1: 255
SUPPORT 2: 244
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 255 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 towards major support on lower side around 245 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 290
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 255 on downside and 285 on upside.