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Charts suggest near-term upside for pharma, oil & gas shares: Ravi Nathani

According to the technical analyst, he remains bullish on Nifty Pharma, and Nifty Oil & Gas indices

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Ravi Nathani Mumbai
Nifty Pharma
 
The index experienced a significant and abrupt decline, however, it is expected to demonstrate an exceptional performance in the near future, as per an analysis of its short-term charts.

The index is predicted to attain a target of 11,850 and 12,000, thereby offering investors and traders an opportunity to profit from the market. It is recommended to purchase the index at the current market price or during any subsequent dips while keeping the target of 11,850 and 12,000 in mind.

It is also suggested that a stop loss be maintained below 11,630 on a closing basis,