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Nifty Realty Weekly Outlook and Analysis:
For the Week: (Feb 15,2021 – Feb 19,2021)
NIFTY REALTY Index closed the week on positive note gaining 35.65 points 11.66%.
Weekly High: 346.85
Weekly Low: 304.70
Weekly Close: 341.30
Weekly Support & Resistance For Nifty REALTY Index:
| RESISTANCE 2 | 373 |
| RESISTANCE 1 | 357 |
| SUPPORT 1 | 315 |
| SUPPORT 2 | 288 |
NIFTY REALTY index opened tad higher and rallied in opening session of the week. Index continued its up move and made fresh fifty two weeks high. Though index is in uptrend, it may witness profit booking after strong rally.
Technically on the daily charts we see minor support on the downside for NIFTY REALTY index lies at 330 levels, whereas minor resistance on the upside is capped around 355-357 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 315 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 365.
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 320 on downside and 360 on upside.
