 "Pharma")
Nifty Pharma: The index is trading around 52-week low of 7900, which suggests a negative sentiment going ahead. The weekly chart in the month of August 2018 showed a trend line breakout that resisted at 200-weekly moving average (WMA) at 10,730. Thereafter, the index has been weak and profit booking has happened at regular intervals. It did try to reverse trend in March 2019 but witnessed selling pressure around 9600 levels. As index dips lower, selling pressure can intensify.
A major bullish trend may start only above 8,600 – 8,500 level, which seems far considering the strong resistance of
A major bullish trend may start only above 8,600 – 8,500 level, which seems far considering the strong resistance of
