Nifty Pharma is the defensive play of the seasonNIFTY Pharma - Beautiful Base at 50 DMA. Excellent from medium term POV. Relative Strength against Nifty could be better, but it is a risk one will have to work with since Risk Reward is in favour.
Breakout is complete, look for strongest stocks in the sector. Some should already be trading at ATH o
Index To Watch Next Week: CNX Pharma Index. The index that did very well this week and which has potential to carry forward the momentum into the next week seems to be the CNX Pharma Index.
The pharma index looks strongly placed above Mother Line of 50 Weeks EMA line. The resistances it faces or can face if it moves upwards can be near 2166
Flag pattern Breakout in Pharma IndexIndices are far more reliable during technical analysis as compared to the individual stocks.
The pattern is a clean one in Nifty Pharma Index.
This is to spread the awareness about technical chart patterns and not a buy/sell recommendation.
Always do your own research before making any financial d
Index to watchout for next week: Pharma Index. For the past few weeks we have been trying to understand how to use the performance of an index reflects in performance of stocks that are constituents of that particular index and vice versa. By catching the index that is on the verge of breaking out or has broken out during the week, we can plan o
CNXPHARMA - Trend Reversal 📊 Script: CNXPHARMA (NIFTY PHARMA)
Key highlights: 💡⚡
📈 Nifty Pharma is retesting from its support level shown in chart.
📈 Pharma stocks can give good returns.
📈 One can go for Swing Trade into Pharma stocks.
📊 Script: CIPLA
⏱️ C.M.P 📑💰- 1414
🟢 Target 🎯🏆 - 1510
📊 Script: LUPIN
⏱️ C.M.P 📑
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Displays a symbol's price movements over previous years to identify recurring trends.