Check Nifty Pharma Index Full Analysis At Unicorn Signals

NIFTY PHARMA Weekly Outlook and Analysis:

For the Week: (May 30, 2022 – Jun 03, 2022)

Check Nifty Pharma Index Full Analysis At Unicorn Signals

NIFTY PHARMA Index closed the week on negative note losing 395.55 points 3.03%.

Weekly High: 13,253.80

Weekly Low: 12,398.40

Weekly Close: 12,669.95

Weekly Support & Resistance For Nifty Pharma Index:

Technically on the daily charts we see minor support on the downside for NIFTY PHARMA index lies at 12500 levels, whereas minor resistance on the upside is capped around 12800-12850 levels.

If NIFTY PHARMA index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag  towards major support on lower side around 12300 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 13000.

Currently NIFTY PHARMA index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 12350 on downside and 12950 on upside.