Nifty Media Weekly Outlook and Analysis:

For the Week: (May 24,2021 – May 28,2021)

NIFTY REALTY Index closed the week on positive note gaining 20.20 points 6.72%.

Weekly High: 326.10

Weekly Low: 300.95

Weekly Close: 320.65

Weekly Support & Resistance For Nifty Reality Index:

NIFTY REALTY index opened tad higher and extended gain in early part of the week. Index continued its up move in mid week despite broader weakness. Index ended on strong note amid late recovery in key indices. We expect index likely to continue this up move going forward.

Technically on the daily charts we see minor support on the downside for NIFTY REALTY index lies at 314 levels, whereas minor resistance on the upside is capped around 328-330 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 306 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 340.

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 310 on downside and 335 on upside.