Pharma Index Major Trend Analysis with upcoming Important Levels
Nifty Pharma Index Weekly Chart (24th November 2021)
Nifty Pharma Index Analysis
Nifty Pharma Index was in the major downtrend on weekly chart since 2015 until it finally bottoming out with breakout for major uptrend in Mid 2020 as Covid-19 pandemic created great buzz for buying pharma stocks with all large to small caps pharma companies started rallying for strong bullish trend giving investors good returns.
Nifty Pharma Index Weekly Chart (24th November 2021)
Nifty Pharma Chart Analysis
The Nifty Pharma Index continues its uptrend till the bullish rising green trendline remains intact as prices continues to close d above it on weekly basis. Recent fall in Nifty, Nifty Pharma Index tested the trendline support at very important 13150 levels.
Nifty Pharma Index Weekly Chart (24th November 2021)
Conclusion
Nifty Pharma Index is trading at very curial levels of 13200 to 13500 levels which are very important price reversal levels. Till Nifty Pharma Index holds these levels the uptrend will be intact. However, a strong breakdown from these levels with Nifty Pharma strongly closing below 13000 levels can trigger major sell of fin all pharma stocks.
Learn Advanced Price Structure Analysis and stay ahead of others using the most advanced price analysis to captured the multi-bagger share to intraday trading setups Know more here.
Subscribe to Bank Nifty and Nifty Options Buying Intraday Trading Advisory. Act Now!
