EquityPandit’s Outlook for NIFTY REALTY for the week (April 27, 2020 – April 30, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on negative note losing 10.10 Points 5.38%.

Weekly High: 192.15

Weekly Low: 177

Weekly Close: 177.70

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 170 levels, whereas minor resistance on the upside is capped around 185-187 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 160 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 195.

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 163 on downside and 190 on upside.

Weekly Pivot Levels:

RESISTANCE 2: 197

RESISTANCE 1: 187

SUPPORT 1: 172

SUPPORT 2: 167