Nifty Pharma: Ready for the Next Big Move? - 22.03.2025
Nifty Pharma: Ready for the Next Big Move? - 22.03.2025
Nifty Pharma: Ready for the Next Big Move? - 22.03.2025
Nifty Pharma: Ready for the Next Big Move? - 22.03.2025
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Key Factors Affecting the Market
- Nifty Pharma index has been in a strong long-term uptrend but is currently experiencing a pullback.
- The 50-day moving average (21,363) is acting as resistance, while the 150-day (16,537) and 200-day (15,867) moving averages provide strong support.
- RSI at 50.97 indicates neutral momentum, suggesting indecision among traders.
- MACD remains negative, hinting at further consolidation or correction.
- ADX at 22.05 suggests the trend strength is weakening.
Key Watch
- Support levels: 20,000 | 18,500
- Resistance levels: 21,500 | 23,500
- A breakout above 21,500 may push the index higher, while a drop below 20,000 could lead to more downside.
Volume Analysis
- Trading volume at 83.99M, significantly lower than the 117.25M average, indicating weak participation.
- A volume surge is needed to confirm any potential breakout.
Dow Theory Chart Analysis & Observations
- The index remains in an overall bullish trend, but short-term corrections are visible.
- The price is testing key support and resistance levels.
- A decisive move above 22,000 would indicate a bullish breakout, whereas a dip below 20,000 could bring further weakness.
Stocks to Watch
- Sun Pharma
- Dr. Reddy’s Labs
- Cipla
- Divi’s Labs
Market Insights: Short-Term & Long-Term View
- Short-Term: The index is consolidating, and a breakout above 21,500 is required for a fresh rally.
- Long-Term: The bullish trend remains intact, and dips may provide good buying opportunities for long-term investors.
Disclaimer : This analysis is for educational and informational purposes only. It does not constitute financial advice. Please conduct your own research before making investment decisions.
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