Support and Resistance Levels Sumeet Bagadia, Executive Director at Choice Broking, points out that the Nifty Realty Index has established a crucial base at the 1,000 mark, indicating strong support. The index faces resistance at 1,100 and 1,150 levels. A break above these levels could signal the continuation of the upward trend.
Technical Analysis The Nifty Realty Index has formed a bullish pattern on the daily chart, suggesting that buyers are gaining control. The RSI is hovering around the 60 level, indicating strength but still having room to move higher. The MACD line is above the signal line, reinforcing the bullish outlook.
Trading Strategy If the index opens above 1,000 and sustains this level for a few hours on Monday, it could trigger a move towards the 1,100 and 1,150 resistance levels. Traders should maintain a buy-on-dips strategy, adding positions near the 1,000 support level as long as it holds.
