Ravi Nathani recommends to wait for correction to complete in these sectors

According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.

Nifty Realty

Bias: Wait for correction to complete

Last close: 407.70

The Nifty Realty has been trading within a range over the past year, with a support level of 365 and a resistance level of 482.

Currently, the index is in a near-term downtrend, with a potential target support level of 390-380. Based on this analysis, I recommend considering the accumulation of the index once it reaches these near-term support levels after the correction has been completed.

No Trade Zone: 404 – 412

Expected Intraday Resistance: 418 – 429 – 449

Expected Intraday Support: 399 – 381 – 365

Nifty Pharma 

Bias: Wait for correction to complete

Last close: 12,355.80 

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