Nifty Realty - 2025 Outlook - Some more pullbackRealty is in a 6 month pullback since July'2024 and is cooling off overbought momentum levels.
Below factors suggest that there is some more pullback/consolidation to go before REALTY could reverse and continue bull run to ATH.
1) While monthly RSI has come down from 88 to 72 levels, some more cool off is required to reach 50 to 60 levels.
2) 20 Monthly EMA(MEMA) which acted as reversal zone for covid rally pullback (Oct'21 to Mar'23), is way off at 14% below current levels.
3) 38.3 % fib retracements of the latest rally that started in Apr 2023 is also 17.75% below current levels.
Overall, past patterns suggest some more pullback/consolidation remains before REALTY could rally again. Relative Strength versus Nifty has been good even during pullback phase. So the wait may not be much longer.