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Sector Outlook : NIFTY Realty Sector Weak in the Short Term

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CNX Realty

 

Nifty Realty Sector had made more than 37% gain since 1st March 2016. And now the sector is overheated and facing the resistance around the previous zone 176. Weakness is visible in majority of the Realty sector stocks. Since 1st March 2016 Nifty Realty Sector had made four gaps left unfaded and the very recent gaps are around 162.95 and 159.9.

CNX Realty Gaps

Relative Rotational Graph suggests that Nifty realty sector is entering from the leading quadrant to weakening quadrant with a loosing momentum. which suggests that high probability of Nifty Realty underperforming Nifty 50 in the medium term as well.

Realty RRG

In short we expect Nifty Realty sector to come down as the sector looks over heated, Sentiments turned negative and the trend looks weak in the shorter term moreover sector is likely to underperform Nifty 50 in the medium term.

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