EquityPandit’s Outlook for NIFTY REALTY for the week(Oct 14, 2019 – Oct 18, 2019):

NIFTY REALTY:

 
NIFTY REALTY Index closed the week on negative note loosing -0.85 Points -0.34%

Weekly High: 251.45

Weekly Low: 243.10

Weekly Close: 247.30

RESISTANCE 2: 255

RESISTANCE 1: 251

SUPPORT 1: 243

SUPPORT 2: 238

Technically on the daily charts we see minor support on the downside for NIFTY REALITY index lies at 243 levels, whereas minor resistance on the upside is capped around 251–253 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 234 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 259.

Currently NIFTY REALITY index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 234 on downside and 255 on upside.