EquityPandit’s Outlook for NIFTY REALTY for the week(Nov 4, 2019 – Nov 8, 2019):
NIFTY REALTY Index closed the week on positive note gaining 6.25 Points 2.36%.
Weekly High: 273.35
Weekly Low: 264.35
Weekly Close: 271.15
Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 264 levels, whereas minor resistance on the upside is capped around 275-277 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 260 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 284.
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 263 on downside and 280 on upside.
RESISTANCE 2: 278
RESISTANCE 1: 274
SUPPORT 1: 265
SUPPORT 2: 260