Nifty Realty Weekly Outlook and Analysis:

For the Week: (Sept 21,2020 – Sept 25,2020)

NIFTY REALTY Index closed the week on positive note gaining 11.80 points 5.49%.

Weekly High: 230.05

Weekly Low: 216.85

Weekly Close: 226.75

Weekly Support & Resistance For Nifty Index:

NIFTY REALTY index has witnessed reversal after it took support of 100 ema and closed above its 200 day ema. We expect index likely continue its up move, if broader indices continue its lackluster trading. Momentum indicator also trending upward which supports bullish activity.

Technically on the daily charts we see minor support on the downside for NIFTY REALTY index lies at 220 levels, whereas minor resistance on the upside is capped around 231-233 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 towards major support on lower side around 212 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 240.

Currently NIFTY REALTY index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 215 on downside and 237 on upside.