Useful Pharmaceutical Sector Outlook of the Week (April 5, 2020 – April 9, 2020)

NIFTY PHARMA Weekly Outlook and Analysis: For the week: (05.2021 April – 09.2021 April) The NIFTY PHARMA index closed the week positively with a 4.16% increase of 493.90 points. Weekly High: 12,400.55 Weekly Low: 11,958 Weekly Close: 12,377.10 Weekly Support and Resistance for Nifty Pharma: RESISTANCE 212687 RESISTANCE 112 532 SUPPORT 112 089 SUPPORT 211802 The NIFTY PHARMA Index opened a breach and rose in the week's opening session. The index closed its rising in the second half of the week in a positive way. We expect the index to continue this uptrend amid growing corona concerns. The momentum indicator is also showing an upward trend, showing an upward trend. Technically, while the NIFTY PHARMA index is at the level of 12.150, we see some downside support on the daily charts as slightly upside resistance covers the 12.500-12550 levels. If the bottom NIFTY PHARMA index breaks the small support and closes below, we can see a new split and the index may shift to a major support around 11900, and if a small resistance crosses above and closes above, we can get a new breakouts and the index can go higher around 12800. Currently, the NIFTY PHARMA index is trading above the 200-day exponential moving average, indicating that the long-term trend is on the rise. EquityPandit analyst estimates that the weekly range will be between 12,000 and 12,700. After the Stylish Drug View of the week (April 5, 2020 – April 9, 2021), it was first published on Equitypandit. Read more

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