EquityPandit’s Outlook for NIFTY REALTY for the week (June 22, 2020 – June 26, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on positive note gaining 8.30 points 4.06%.

Weekly High: 213.70

Weekly Low: 194

Weekly Close: 212.95

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 219-221 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 230.

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 193 on downside and 227 on upside.

WEEKLY PIVOT LEVELS:

RESISTANCE 2: 226

RESISTANCE 1: 219

SUPPORT 1: 200

SUPPORT 2: 187