Technical chart suggests that the Nifty Auto, IT and Pharma indices can potentially fall up to 22% from present levels if these key support levels are broken.
Thus far in the calendar year 2025, the Nifty Pharma index has slipped 11 per cent, as against 3.7 per cent fall in Nifty 50.
Stocks such as Natco, Dr. Reddy's, Cipla, Mankind, Torrent, Sun Pharma, Abbott, and Glenmark slipped in the range of 1-2 per cent
IT, pharma, cement, and other sectors look attractive to analysts with no pre-budget rally in picture
The Nifty Pharma Index is witnessing a bearish trend in the near term, with strong support anticipated in the range of 21,825 to 21,700
The northward move in Dr Reddy's share price came after Tokyo, Japan-based brokerage Nomura upgraded the stock to 'Buy' from 'Neutral'
Stock market today: What are the key support, resistance levels for the Nifty Pharma, and Energy indices? What should be the trading strategy? Here is your trading guide for stock market today
Individually, Cipla soared up to 3.68 per cent to hit an intraday high of Rs 1,547.70 per share, while Sun Pharma soared up to 3.30 per cent to hit an intraday high of Rs 1,791.60 per share
The Nifty FMCG index is currently exhibiting a downward trend in the near term, while Nifty Pharma index continues to exhibit a bearish trend in the near term
Nifty Metal is currently approaching critical support levels between 8,800 and 8,700, while Nifty Pharma Index shows a clear downtrend on the charts
The Nifty Energy Index is currently trading within a well-defined range between 39,700 and 38,150
Analysts believe that Indian export-oriented sectors such as pharma and IT may experience challenges under Donald Trump's rule. Here's how Nifty IT and Pharma indices are placed on charts.
The Nifty IT, Auto, and Pharma indices are all exhibiting short-term downtrends, and the technical indicators suggest limited upside potential
The Nifty Pharma Index is currently trading within a well-defined range between 23,800 and 22,700. A breakout above or below these levels will likely trigger a directional move
Shilpa Medicare share price surged after the company said that its arm, Shilpa Pharma Lifesciences, has received certificate of suitability (CEP) from EDQM for API, Desmopressin
The Nifty Pharma Index remains range-bound, trading between 23,450 and 22,925. A close above or below these levels would act as a directional trigger, leading to either a bullish or bearish breakout.
The Nifty Pharma Index is currently trading in a defined range between 23,700 and 22,700. This suggests that the market is experiencing indecision, with neither buyers nor sellers dominating.
The shares of Panacea Biotec rose after the company announced that it has secured $20 million in loan from US International Development Finance Corp (DFC).
Support levels are crucial in this corrective phase, and for the Nifty FMCG Index, key support levels are identified at 61,180 and 59,500.
The Nifty Pharma Index is currently showing a bullish trend on the near-term charts but is approaching a significant resistance level around 20,850