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Nifty Pharma Index Weekly Outlook and Analysis:

For the Week: (June 12, 2023 – June 16, 2023)

Nifty Outlook for the Week (May 22, 2023 – May 26, 2023)

NIFTY PHARMA Index closed the week on negative note losing 39.55 points 0.31%.

Weekly High: 13,087.60

Weekly Low: 12,849.85

Weekly Range: 12,861.05 

Weekly Support & Resistance For Nifty:

Technically on the daily charts we see minor support on the downside for NIFTY PHARMA index lies at 12,750 levels, whereas minor resistance on the upside is capped around 12,950-13,000 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 12,600 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 13,100.

Currently NIFTY PHARMA index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 12,650 on downside and 13,050 on upside.