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Trend looks bullish on Nifty Pharma, Media indices, says Ravi Nathani

According to the technical analyst, the Nifty Pharma index can rally up to 13,250 level, while the Media index can surge to 2,080 level.

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technicals

Ravi Nathani Mumbai
NIFTY FMCG
Bias: Range-bound
Last close: 44,324.35

An analysis of recent data on market prices has shown a trend of stable fluctuation within a limited range, with the lowest recorded price being 43,456 and the highest recorded price being 44,981.

Additionally, an examination of the near-term charts reveals the formation of a triangle pattern when the upper and lower trend lines are joined. The trend of stable fluctuation within a small range, along with the formation of a triangle pattern on charts, suggests that the most advantageous strategy for traders would be to dispose of their assets near the level of resistance at 44,800,

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First Published: Jan 25 2023 | 8:06 AM IST

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