Nifty Pharma(9326): #BullishDivergence #50DMA key
Pharma index has recently shown bullish divergence
and moved up from sub 9000 levels to 9400 levels
this past week.
Past couple of days price has closed with
shooting star @ 50DMA & supply zone.
Going forward 9170-9230-9270 will act as support,
till these levels are not broken expect price to
retest 9400-9420
Break above 9420 will further strengthen move towards
9650-9670
In case 9150-9170 is broken profit booking upto
8975-8920 levels will be seen
and moved up from sub 9000 levels to 9400 levels
this past week.
Past couple of days price has closed with
shooting star @ 50DMA & supply zone.
Going forward 9170-9230-9270 will act as support,
till these levels are not broken expect price to
retest 9400-9420
Break above 9420 will further strengthen move towards
9650-9670
In case 9150-9170 is broken profit booking upto
8975-8920 levels will be seen
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