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

NIFTY REALTY:

NIFTY REALTY Index closed the week on positive note gaining 3.00 points 1.48%.

Weekly High: 210.45

Weekly Low: 202.60

Weekly Close: 206.10

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 200 levels, whereas minor resistance on the upside is capped around 210-212 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 190 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 220.

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 195 on downside and 217 on upside.

WEEKLY PIVOT LEVELS:

RESISTANCE 2: 214

RESISTANCE 1: 210

SUPPORT 1: 202

SUPPORT 2: 198