Nifty Pharma weekly view.
The long term down trend seems to be broken. Trend is currently upward.
Price has broken 9456, would like to see it being re-tested. Possibly price would go up and drop back today to test the trend line and then revert back up towards 9456 to 9698. This could give an indication of uptrend to continue. Another options is it just drops below to 8990 mark and hopefully bounce back from there.
If price drops below 8990 I would exit from the position and look at options to re-enter.
Price has broken 9456, would like to see it being re-tested. Possibly price would go up and drop back today to test the trend line and then revert back up towards 9456 to 9698. This could give an indication of uptrend to continue. Another options is it just drops below to 8990 mark and hopefully bounce back from there.
If price drops below 8990 I would exit from the position and look at options to re-enter.
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