NIFTY PHARMA

Nifty Pharma Outlook for the Week (Jan 10,2022 – Jan 14,2022)

NIFTY PHARMA Weekly Outlook and Analysis:

For the Week: (Jan 10,2022 – Jan 14,2022)

NIFTY PHARMA Index closed the week on negative note losing 365.05 points 2.57%.

Weekly High: 14,280

Weekly Low: 13,841.95

Weekly Close: 13,857.95

Weekly Support & Resistance For Nifty Pharma Index:

RESISTANCE 214,431        
RESISTANCE 114,144
SUPPORT 113,706
SUPPORT 213,555  

Technically on the daily charts we see minor support on the downside for NIFTY PHARMA index lies at 13700 levels, whereas minor resistance on the upside is capped around 14000-14050 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 13500 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 14250.

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 13550 on downside and 14150 on upside.

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