EquityPandit’s Outlook for NIFTY REALTY for the week (Feb 24, 2020 – Feb 28, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on negative note losing 7.55 Points 2.41%.

Weekly High: 312.50

Weekly Low: 300.35

Weekly Close: 306.25

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 300 levels, whereas minor resistance on the upside is capped around 312-314 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 295 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 320.

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 296 on downside and 318 on upside.

Weekly Pivot Levels:

RESISTANCE 2: 318

RESISTANCE 1: 312

SUPPORT 1: 300

SUPPORT 2: 294