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Nifty Pharma Index Weekly Outlook and Analysis:

For the Week: (17-JUL-2023 to 21-JUL-2023)

NIFTY Pharma outlook for the Week: (17-JUL-2023 to 21-JUL-2023)

NIFTY PHARMA Index closed the week on positive note gaining 176.65 points 1.28%.

Weekly High: 13,980.05

Weekly Low: 13,705.35

Weekly Close: 13,945.65

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 13,775 levels, whereas minor resistance on the upside is capped around 14,100-14,150 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 13,600 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 14,300.

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 13,650 on downside and 14,200 on upside.