Aetram Research India: NIFTY PHARMA Weekly Sector Outlook
Nifty Pharma Bears Hold Structural Advantage; Above 25,650 May Support 26,200 Recovery, While Below 25,000 Could Extend Losses Toward 24,500 - 24.10.2026
Current Market Price: 25,329.45
Market Prediction:
- Nifty Pharma’s rebound from near 25,000 has yet to reverse October’s sequence of lower highs. RSI at 45.26 shows incomplete momentum recovery, while negative MACD maintains caution. ADX at 14.19 suggests limited trend strength. Sustaining 25,000 may encourage consolidation; reclaiming 25,650 could reopen 26,200, whereas failure would expose lower support levels.
Upcoming Events:
- Market reaction to Dr Reddy’s earnings could support selective domestic-demand beneficiaries.
- Further US revenue weakness in earnings updates could restrain sector valuations.
- Any delay resolving semaglutide supply issues could weigh on company sentiment.
Major Support and Resistance:
- Support: 25,000, 24,750, 24,500
- Resistance: 25,650, 26,200, 26,300
Volume Analysis:
- Recent volume is subdued compared with earlier isolated spikes, offering limited confirmation of committed buying near the lows. The rebound therefore needs expanding participation; present activity cannot establish either institutional accumulation or a selling climax.
Final Take Away:
- The rebound has bought Pharma some breathing room, although overhead supply remains substantial. A sustained move through 25,650 would improve recovery prospects. Repeated rejection beneath that level would keep the vulnerable 25,000 floor in focus.
Next Week Prediction:
- Pharma could oscillate between 25,000 and 25,650 initially. Acceptance above resistance may favour 26,200; losing support would shift attention towards 24,750, then potentially 24,500 thereafter.
Scenario-Based Outlook:
- Bullish Scenario: Above 25,650, price may move toward the 26,200–26,300 zone.
- Bearish Scenario: Below 25,000, downside risk toward the 24,750–24,500 zone.
- Neutral Scenario: Between 25,000–25,650, consolidation likely.
Disclaimer: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.
