400 is going to be a horizontal support, neckline support and channel support.., Go long from here with a room of another 10 point fall.., if this neck line broken and if holds below 395, further fall to 325 possible as the head height is more than 80 points.., If upward rising channel is true, if holds 400, channel top possible again which is close to 500..,
NIFTY pharma index may show some excess above channel top to reach its crucial resistance zones at 9500 and may return back to its original trend. You may go long for pharma stocks at current levels and on further dip for a target 9-10 percent more on upside.
7980 is a level, where a head and shoulder and inverted head and shoulder breakout happened in 2015-2016, Since then it acted as support on weekly chart and never closed below this level. Hope it holds. If breaks, go short for a target of 7500 and 6900