Nifty Pharma Outlook for the Week (Aug 03,2020 – Aug 07,2020)

If NIFTY PHARMA index breaches minor support on the drawback and closes below it, we might see fresh break down and index can drag towards significant assistance on lower side around 10300 and if breaches small resistance on the advantage and closes above it, we might see fresh breakout and index can head towards greater levels around 12000.

Weekly High: 11,194.45.

Technically on the day-to-day charts we see small assistance on the downside for NIFTY PHARMA index lies at 10700 levels, whereas minor resistance on the advantage is topped around 11450-11500 levels.

Weekly Close: 11,148.90.

Weekly Low: 9,994.80.

Nifty Pharma Weekly Support and Resistance Levels:.

RESISTANCE 1.
11563.

For the Week: (Aug 03,2020– Aug 07,2020).

RESISTANCE 2.
11979.

NIFTY PHARMA closed the week on favorable note acquiring 910.95 points 8.90%.

Presently NIFTY PHARMA index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandits analyst anticipates variety for the week is seen from 10500 on disadvantage and 11900 on benefit.

SUPPORT 1.
10364.

SUPPORT 2.
9579.

NIFTY PHARMA index has actually offered breakout of its increasing channel. Index has provided breakout after seven weeks of variety trading activity, momentum sign likewise support further uptrend in index.