Nifty Pharma

According to the technical analyst, the Nifty Media Index is currently displaying a range-bound pattern, with fluctuations occurring within a prescribed range

According to the technical analyst, he remains bullish on Nifty Pharma, and Nifty Oil & Gas indices

Analysts said the pace of US FDA inspections has again picked-up in the last few months post Covid, and they have seen increased incidents with 483 observations and adverse outcomes

According to the technical analyst, traders must adopt 'sell-on-rise' strategy for Nifty Pharma, Nifty Energy, and Nifty Midcap 100 indices

Analysts believe that some of the recent observations from the US FDA are critical in nature and could lead to a potential Official Action Indicated (OAI) classification for the Indore plant

The technical analyst also expects a pullback in the Nifty Pharma index.

The technical analyst also advices to avoid media stocks for now, as the Nifty Media index could side to 1,631 level.

Barring Sun Pharmaceutical Industries, which is anticipated to rally up to 10 per cent; other stocks indicate weak bias, as per technical charts

According to the technical analyst, charts suggest bullish trend for Nifty Pharma, Nifty Realty, and Nifty Media indices

Given the uncertainty on how the market trajectory may play out ahead, analysts believe investors can rotate allocation from high beta stocks to defensive plays albeit selectively

Traders must adopt a bullish stance on the market as the Nifty 50 index closed above 17,870, indicating that bulls are likely to be stronger than bears in the near-term, says Ravi Nathani

According to the technical analyst, the Nifty Pharma index is likely to get support around 11,981 level.

According to the technical analyst, the Nifty Realty, Pharma and Media index and its constituents can be accumulated once the corrective move is over.

According to the technical analyst, the Nifty Energy index can drop to 24,239, and the Pharma to 12,100.

According to the technical analyst, the Nifty Pharma index can rally up to 13,250 level, while the Media index can surge to 2,080 level.

The overall sentiment towards the market has remained indecisive and ambiguous, with market participants waiting for a clear direction

Technically, the Nifty Pharma index needs to immediate hurdle at 13,500, for further upside to 14,250.

What do expect from pharma stocks over the next few weeks? Here's what technical charts suggest.

They turn cautious and prefer defensive bets

The Pharma benchmark has outperformed the overall market in recent trading sessions; sustenance above 200-DMA is likely to trigger further gains for it