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The Nifty Realty index has taken a sharp hit in the last two months, and was seen quoting 29 per cent lower when compared to its peak of 1,137.50 hit on December 17, 2024. The Nifty Realty index quoted around 826 levels, and has shed 10.5 per cent thus far in February. Technically, the index was seen quoting below the key moving averages on the daily scale, and testing its 100-WMA (Weekly Moving Average) for the first time since April 2023. The 100-WMA stands around 816 levels. Way back in April 2023, after the breakout above the 100-WMA, the Nifty Realty index staged a stupendous bull run, and rallied as much as 162 per cent. Can a downside breakout trigger a dramatic fall in the Nifty Realty? Here's what the technical charts suggest. Nifty Realty Current Price: 826 Downside Risk: 23.7% Support: 816; 755 Resistance: 882 Apart from the Nifty Realty index testing its 100-WMA, the index was seen quoting below its 20-MMA (Monthly Moving Average) for the first time since April 2023. The 20-MMA support stands at 882; a monthly close below the same shall ring alarm bells for the sector. Thus, the support at 100-WMA holds key significance for now. CLICK HERE FOR THE CHART Further, chart shows that the Nifty Realty index seems on course to test support at its super trend line on the monthly scale at 755 levels. The index has not violated this trend line support since December 2020. In the worst case scenario, the Realty index can crash to 630-odd levels, wherein stands the 200-WMA. This implies a downside risk of 23.7 per cent from the present levels. ALSO READ: Can smallcap stocks crash trigger a capitulation phase? What analysts say DLF Current Price: Rs 668 Downside Risk: 22.2% Support: Rs 630 Resistance: Rs 722; Rs 755 DLF stock is seen trading below its 100-WMA, which stands at Rs 706 for the second straight week. The stock last tested these levels in March 2023. Key momentum oscillators on the daily and weekly chart are seen in oversold zone. The long-term chart shows that DLF is within striking distance of its monthly trend line support at Rs 630. As long as this support is held, the stock can attempt a pullback in the near-term. Any upside is likely to meet with stiff resistance in the Rs 722 - Rs 755 zone. On the flip side, break and trade below Rs 630 levels, shall open the doors for an extended fall towards Rs 520 levels. CLICK HERE FOR THE CHART Sobha Current Price: Rs 1,132 Downside Risk: 24% Support: Rs 1,090; Rs 900 Resistance: Rs 1,300 Sobha is seen testing support at Rs 1,119 for the last five trading sessions. The stock has seen a sharp fall of nearly 46 per cent from its peak of Rs 2,070. That apart, the stock is seen testing its 100-WMA after September 2023. The long-term chart suggests the stock could slide towards 860 levels on the downside. Interim support for the stock can be anticipated around Rs 1,090 and Rs 900 levels. On the upside, resistance for the stock exists at Rs 1,300. CLICK HERE FOR THE CHART ALSO READ: 5 smallcap stocks that can fall up to 21% Mahindra Lifespace Developers Current Price: Rs 347 Downside Risk: 23.6% Support: Rs 311; Rs 288 Resistance: Rs 400 Mahindra Lifespace Developers stock has tanked 49 per cent from its peak of Rs 676.55 hit in April 2024. The stock is seen trading with net losses for the last seven straight months. The near-term bias for the stock is expected to remain bearish as long as the stock trades below Rs 400-mark. On the downside, the stock can tumble to Rs 265-odd levels; with interim support possible around Rs 311 and Rs 288 levels. CLICK HERE FOR THE CHART Godrej Properties Current Price: Rs 1,982 Downside Risk: 22.8% Support: Rs 1,875; Rs 1,850 Resistance: Rs 2,040 Godrej Properties stock is seen testing its 200-WMA for the first time since April 2023. The 100-WMA support stands at Rs 1,876. Whereas, on the monthly scale the stock is seen trading below the trend line support, which stands at Rs 2,040, for the first time since November 2023. A monthly close below the same shall further weaken the technical set-up. On the downside, the stock may test Rs 1,875 - Rs 1,850 support zone. Break and sustained trade below the same can trigger a fall towards Rs 1,660 and Rs 1,530 levels. CLICK HERE FOR THE CHART ALSO READ: Polycab, Voltas, KEI, Lodha can slide up to 18% as charts flag this warning Macrotech Developers (Lodha) Current Price: Rs 1,179 Upside Potential: 10.3% Support: Rs 1,120 Resistance: Rs 1,240; Rs 1,270 Lodha seems to be relatively better placed, as the stock has consistently found support around its 20-MMA, which stands at Rs 1,120. As long as this support is protected, the stock may attempt a pullback towards Rs 1,300 levels. Interim resistance for the stock can be expected around Rs 1,240 and Rs 1,270 levels. CLICK HERE FOR THE CHART
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