EquityPandit’s Outlook for NIFTY REALTY for the week (May 11, 2020 – May 15, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on negative note losing 17.75 Points 9.48%.

Weekly High: 182.20

Weekly Low: 168.60

Weekly Close: 169.55

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 164 levels, whereas minor resistance on the upside is capped around 178-180 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 150 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 190.

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 152 on downside and 185 on upside.

Weekly Pivot Levels:
RESISTANCE 2: 187

RESISTANCE 1: 178

SUPPORT 1: 164

SUPPORT 2: 159