Breakout stocks: Nifty Pharma, Biocon, Cipla break over 200-DMA; what next?

The Nifty Pharma index and select shares such as Biocon, Cipla, Zydus Life and Gland Pharma were trading above the respective 200-DMAs after more than 2 months; show technical charts.

The Nifty Pharma index was quoting above its 200-Day Moving Average (200-DMA) after a gap of two months. Similarly, select pharma stocks such as - Biocon, Cipla, Zydus Lifesciences and Gland Pharma too are seen trading above their respective 200-DMAs.  The 200-DMA, also commonly referred to as the long-term moving average, is a key technical indicator which helps in determining the long-term trend of the particular underlying security. Stocks or indices quoting above the 200-DMA are considered as bullish (positive) and vice versa. 

Here's a detailed technical analysis on today's breakout stock - the Nifty Pharma index and 4