EquityPandit’s Outlook for NIFTY REALTY for the week (May 4, 2020 – May 8, 2020):

NIFTY REALTY:

NIFTY REALTY Index closed the week on positive note gaining 09.60 Points 5.40%.

Weekly High: 191.75

Weekly Low: 178.45

Weekly Close: 187.30

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 175 levels, whereas minor resistance on the upside is capped around 198-200 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 160 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 215.

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 165 on downside and 210 on upside.

Weekly Pivot Levels:

RESISTANCE 2: 199

RESISTANCE 1: 193

SUPPORT 1: 179

SUPPORT 2: 172