Cipla, Dr Reddy's Labs: Tech charts show up to 11% upside in pharma stocks

After hitting a new all-time high of Rs 997 earlier today, the stock of Cipla is all set to rally towards Rs 1,100

Led by gains in Divi's Labs, Sun Pharma, Cadila Healthcare and Dr Reddy's Laboratories, the Nifty Pharma pack was trading marginally higher in Wednesday's trade, with most stocks hovering near their all-time high levels.

Shares of Cipla hit a new all-time high of Rs 997 in Wednesday's session, looking poised to enter the four digit-share club after the Drugs Controller General of India (DCGI) permitted the firm to import Moderna's Covid Vaccine with emergency use authorisation in India. READ ABOUT IT HERE

Other pharma stocks like Divi's Laboratories and Dr Reddy were also trading near their all-time highs.