EquityPandit’s Outlook for NIFTY REALTY for the week (March 02, 2020 – March 06, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on negative note losing 25.70 Points 8.39%.

Weekly High: 305.80

Weekly Low: 275.80

Weekly Close: 280.55

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 288-290 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 257 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 296.

Currently NIFTY REALITY index is trading above 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 262 on downside and 293 on upside.

Weekly Pivot Levels:

RESISTANCE 2: 317

RESISTANCE 1: 298

SUPPORT 1: 268

SUPPORT 2: 257