Nifty Pharma Outlook for the Week (Nov 09,2020 – Nov 13,2020

If NIFTY PHARMA index breaches small support on the downside and closes listed below it, we may see fresh break down and index can drag towards major assistance on lower side around 10800 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 11800.

Weekly High: 11,625.95.

RESISTANCE 1.
11,534.

.

RESISTANCE 2.
11,825.

Weekly Close: 11,243.75.

ASSISTANCE 2.
10,844

NIFTY PHARMA Index closed the week on negative note losing 259.30 points 2.25%.

SUPPORT 1.
11,043.

Weekly Low: 11,135.15.

Technically on the daily charts we see small support on the drawback for NIFTY PHARMA index lies at 11000 levels, whereas small resistance on the advantage is topped around 11500-11550 levels.

Presently NIFTY PHARMA index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandits expert predicts range for the week is seen from 10900 on downside and 11700 on benefit.

Weekly Support & & Resistance For Nifty Pharma Index:.

For the Week: (Nov 09,2020– Nov 13,2020).

NIFTY PHARMA index has actually mirrored the move of wider indices and ended with loss for 3rd successive week. We expect revenue reservation in index to continue going forward.