EquityPandit’s Outlook for NIFTY REALTY for the week (July 20,2020 – July 24, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on negative note losing 9.70 points 4.71%.

Weekly High: 208.45

Weekly Low: 192.40

Weekly Close: 196.40

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 190 levels, whereas minor resistance on the upside is capped around 200-202 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 182 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 210.

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 185 on downside and 207 on upside.

WEEKLY PIVOT LEVELS:

 
RESISTANCE 2: 215

RESISTANCE 1: 205

SUPPORT 1: 189

SUPPORT 2: 183