Nifty Realty Weekly Outlook and Analysis:

For the Week: (Aug 31,2020 – Sept 04,2020)

NIFTY REALTY Index closed the week on positive note gaining 9.05 points 3.95%.

Weekly High: 236.50

Weekly Low: 216.20

Weekly Close: 233.10

Weekly Support & Resistance For Nifty Index:

NIFTY REALTY index has closed above its 200 day EMA on daily charts. We expect index likely to hold bullish sentiment till it trade above said average.

Technically on the daily charts we see minor support on the downside for NIFTY REALTY index lies at 226 levels, whereas minor resistance on the upside is capped around 240-242 levels.

If NIFTY REALTY 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 220 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 250.

Currently NIFTY REALTY 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 222 on downside and 248 on upside.