EquityPandit’s Outlook for NIFTY REALTY for the week(May 13, 2019 – May 17,2019):

NIFTY REALTY:

 
NIFTY REALTY Index closed the week on negative note losing -11.45 Points -4.36 %

Weekly High: 263.55

Weekly Low: 248.7

Weekly Close: 251.20

Technically on the daily charts we see minor support on the downside for index lies at 243-245 levels, whereas minor resistance on the upside is capped around 255-257 levels.

If Nifty Realty index breaches minor support on the downside and closes below it we may see fresh break down and index can drag index towards major support on lower side around 230– 232 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 268– 270

Currently Nifty Realty index is trading above 200 days exponential moving average suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 268– 270 on upside and 230-232 on downside.