Sun Pharma, Divi's Lab, Piramal Enterprises: Time to bet on pharma stocks?

A bullish divergence on RSI favours the upside momentum along with MACD, which is in a positive crossover

Nifty Pharma: The formation on the daily chart resembles 'Double Bottom'. A breakout may indeed lead to a sharp upside in the index, provided volume supports the move. That said, stability above 8,200 levels is crucial. A strong decline from 9,400 to 7,800 in just three months had disrupted the upside potential, so follow-up buying should play a crucial role in formalising an upward trend. CLICK HERE FOR DETAILED CHART VIEW
 
A bullish divergence on RSI (Relative Strength Index) also favours the upside momentum along with MACD (Moving Average Convergence Divergence), which is in