Ravi Nathani recommends to focus on realty, pharma shares on dips

The technical analyst also advices to avoid media stocks for now, as the Nifty Media index could side to 1,631 level.

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Ravi Nathani Mumbai
Nifty Realty
Outlook: Buy on dips
Last close: 389.45

The current market price (CMP) of the NIFTY REALTY index is 389.45, with a negative trend apparent on the charts. Support is expected around 380, which represents a potential buying opportunity around the 382-380 levels, thereby allowing investors to purchase the index and its constituents.

Notably, the Pivot S2 level is around 380, which further reinforces the potential support at this level.

However, a positive divergence is observed on the Relative Strength Index (RSI), indicating a potential bullish reversal in the short term. In light of this, investors must consider accumulating the index at dips for

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First Published: Feb 23 2023 | 8:08 AM IST

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