EquityPandit’s Outlook for NIFTY REALTY for the week (June 8, 2020 – June 12, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on positive note gaining 21.90 points 12.16%.

Weekly High: 205.20

Weekly Low: 182.80

Weekly Close: 202

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 194 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 180 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 227.

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 225 on upside.

WEEKLY PIVOT LEVELS:

RESISTANCE 2: 219

RESISTANCE 1: 210

SUPPORT 1: 188

SUPPORT 2: 174