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Nifty Pharma Index Weekly Outlook and Analysis:

For the Week: (June 19, 2023 – June 23, 2023)

Nifty Pharma Outlook for the Week (June 19, 2023 – June 23, 2023)

NIFTY PHARMA Index closed the week on positive note gaining 380.90 points 2.96%.

Weekly High: 13,278.50

Weekly Low: 12,796.05

Weekly Range: 13,241.95

Weekly Support & Resistance For Nifty Pharma:

Technically on the daily charts we see minor support on the downside for NIFTY PHARMA index lies at 13,100 levels, whereas minor resistance on the upside is capped around 13,350-13,400 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 12,900 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 13,600.

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 13,000 on downside and 13,500 on upside.