Looks like we have a bottom in place for Pharma sector NSE:CNXPHARMA after the rally witnessed in Pharma stocks in the past few days.
However, a small correction may be due if it is unable to cross 8650 levels, as it has stopped exactly around 61.8% retracement of the previous downmove and also formed an inverted hammer today.
Tomorrow’s candle would be crucial as it may decide further move on either side (would take positions accordingly).
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.