Check Nifty Pharma Index Full Analysis At Unicorn Signals

NIFTY PHARMA Weekly Outlook and Analysis:

For the Week: (May 01, 2023 – May 05, 2023)

NIFTY PHARMA Index closed the week on positive note gaining 68.20 points 0.54%.

Weekly High: 12,625.50

Weekly Low: 12,365.85

Weekly Close: 12,613.95

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 12,500 levels, whereas minor resistance on the upside is capped around 12,700-12,750 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 12,350 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 12,900.

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 12,400 on downside and 12,850 on upside.