💊 Nifty Pharma – Short Term View

The Pharma index is showing signs of recovery after a recent correction. Price action suggests consolidation within a descending channel, with a bounce from lower support levels. 📉 Technical Snapshot ✅ Trading above 22,100 support (20-D EMA & recent swing base) 📊 RSI at ~53 → neutral but turning positive, scope for further strength 📈 Near-term momentum picking up as index holds higher lows 🔄 Channel resistance seen near 22,800–22,850 (red trendline) 📌 Key Levels to Watch Supports: 22,100 (immediate), 21,360 (channel bottom & strong base) Resistances: 22,450 (minor hurdle), 22,800–22,850 (major resistance zone) 💡 Outlook Bias is cautiously bullish in the short term. Sustaining above 22,100 keeps momentum intact, with potential upside toward 22,800+. A breakout above 22,850 would open the way for a sharper rally. ⚠️ Watch for rejection near resistance; failure to hold 22,100 could drag index back toward 21,600–21,360. 👉 In short: Nifty Pharma is recovering, bias turns positive above 22,100, with upside potential to 22,800. Breakout above this level can trigger the next leg higher. Bullish stocks: