Last time Nifty Pharma rejected around 10700+ levels. Interestingly this time both short term and medium term view sentiment shifts to a positive mode which brings a positive outlook into Nifty Pharma sector. More likely this time 10700 is likely to breach this time.
Volatility during Oct and Nov month got settled down post the September volatility spike. Possibly a short-term bottom can be anticipated here with immediate support comes around
9120 levels. Responsive Coppock indicator is holding positive since Oct 2018. Probably a good zone to look for short term investment bets in Pharma stocks. Here is out past extreme sentiment analysis on Nifty pharma – 6 Reasons Why Nifty Pharma Will Make 50% upside from here.
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