Lets understand this in deep dive whether we will have turn around in pharma sector or not ? from 2015 to till now pharma sector is in downtrend & has under-performed broad market.
Sector is flat or minor up in last 3 months but we are seeing lot of sign of bottoming out process.
Lets see Nifty pharma weekly chart , Price have been in downtrend from last few year, price had broke 2018 lows and moved back again above lows. Momentum Diverged positively with price.
Lets see how does it outperformed or under performed broader market? We will see nifty pharma performance compare to nifty 500. it has reached downside objective ! IF pharma sector has to turn around then this is ideal place to turn around !
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Nifty pharma vs Nifty 500
After looking at charts , We may be at major inflection point in pharma sector. Overall bias looks positive in nifty pharma. We will discuss stock specific opportunity with members.
We will keep sharing individual stock opportunities in Niftypharma sectors with Niftymillionaire tribe community over the next few months !
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