EquityPandit’s Outlook for NIFTY REALTY for the week(Oct 7, 2019 – Oct 11, 2019):
NIFTY REALTY Index closed the week on negative note loosing -0.55 Points -0.21%
Weekly High: 261.65
Weekly Low: 241
Weekly Close: 248.15
RESISTANCE 2: 270
RESISTANCE 1: 259
SUPPORT 1: 238
SUPPORT 2: 229
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 236 levels, whereas minor resistance on the upside is capped around 260– 263 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 226 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 272
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 226 on downside and 260 on upside.