Nifty Realty Weekly Outlook and Analysis:

For the Week: (Sept 04,2020 – Sept 18,2020)

NIFTY REALTY Index closed the week on negative note losing 5.10 points 2.32%.

Weekly High: 222

Weekly Low: 208.85

Weekly Close: 214.95

Weekly Support & Resistance For Nifty Index:

NIFTY REALTY index has fall below its rising trend line on daily charts. Index has try to recovered losses at fag end of the week. However, weakness will continue until it trade below its 200 day exponential moving average.

Technically on the daily charts we see minor support on the downside for NIFTY REALTY index lies at 208 levels, whereas minor resistance on the upside is capped around 222-224 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 200 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 230.

Currently NIFTY REALTY 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 205 on downside and 225 on upside.