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Nifty Pharma Index Weekly Outlook and Analysis:

For the Week: (July 24, 2023 – July 28, 2023)

Nifty Pharma Outlook for the Week (July 24, 2023 – July 28, 2023)

NIFTY PHARMA Index closed the week on positive note gaining 328.35 points 2.35%.

Weekly High: 14,363.90

Weekly Low: 13,926.80

Weekly Close: 14,274

Weekly Support & Resistance For Nifty Pharma Index:

Technically on the daily charts we see minor support on the downside for NIFTY PHARMA index lies at 14,150 levels, whereas minor resistance on the upside is capped around 14,450-14,500 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 13,850 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 14,700.

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 13,950 on downside and 14,600 on upside.