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Chart reading: Can Nifty Auto and Nifty Pharma catch up with benchmarks?

The Nifty50 index has risen 8.30 per cent to 10,860 and Sensex has gained 8.74 per cent to 36,200 from their November lows of 10,004 and 33,291, respectively

Markets, Up, Down, BSE, NSE, Stocks
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The Nifty50 index has risen 8.30 per cent to 10,860 and Sensex has gained 8.74 per cent to 36,200 from their November lows of 10,004 and 33,291, respectively. However, Nifty Auto has risen only 4.73 per cent while the pharma index Nifty Pharma has climbed 5.49 per cent from their respective lower levels. Both the Nifty indices are substantially trading below their crucial moving averages. The technical indicators of both the indices indicate lag in strength and crossover, especially MACD (moving average convergence and divergence), which is trading below the zero line. Nifty Auto: ...