Ipca Labs, Lupin: Pharma stocks show healthy trend, bottom could be near

Whenever the Nifty pharma index has dipped below oversold territory on the Relative Strength Index (RSI), it has seen a stable rise.

Pharma stocks were trading with decent gains on Friday with select stocks rallying up to 19 per cent.

Here's a look at how hese stocks look on technical charts and the investment strategy one should adopt - 

NIFTY PHARMA: Lately, whenever the index has dipped below the oversold territory on Relative Strength Index (RSI), it has seen a stable rise. The index has either risen or traded above the oversold candle lows. This shows the emergence of buying momentum in an aggressive selling pressure. If this scenario holds for a couple of sessions, then an upside rally towards 7,200