EquityPandit’s Outlook for NIFTY REALTY for the week(Dec 16, 2019 – Dec 20, 2019):

NIFTY REALTY:

NIFTY REALTY Index closed the week on positive note gaining 4.25 Points 1.50%.

Weekly High: 288.55

Weekly Low: 277.05

Weekly Close: 287.65

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 282 levels, whereas minor resistance on the upside is capped around 292-294 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 277 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 297.

Currently NIFTY REALITY 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 280 on downside and 297 on upside.

RESISTANCE 2: 295

RESISTANCE 1: 291

SUPPORT 1: 280

SUPPORT 2: 272