EquityPandit’s Outlook for NIFTY REALTY for the week(Nov 25, 2019 – Nov 29, 2019):
NIFTY REALTY Index closed the week on negative note losing 1.10 Points 0.40%.
Weekly High: 279.30
Weekly Low: 272.25
Weekly Close: 275.85
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 270 levels, whereas minor resistance on the upside is capped around 279-281 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 266 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 286.
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 266 on downside and 286 on upside.
RESISTANCE 2: 282
RESISTANCE 1: 279
SUPPORT 1: 272
SUPPORT 2: 268