EquityPandit’s Outlook for NIFTY REALTY for the week (Jan 13, 2020 – Jan 17, 2020)

NIFTY REALTY:

NIFTY REALTY Index closed the week on positive note gaining 11 Points 3.67%.

Weekly High: 311.75

Weekly Low: 291.35

Weekly Close: 310.65

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 305 levels, whereas minor resistance on the upside is capped around 315-316 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 301 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 318.

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 303 on downside and 318 on upside.

Weekly Pivot Levels:

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RESISTANCE 2: 324

RESISTANCE 1: 317

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SUPPORT 1: 297

SUPPORT 2: 284

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