Nifty Pharma Index (CNXPHARMA) weekly chart study

Nifty Pharma Index (CNXPHARMA) weekly chart study

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Expecting an unprecedented rally in Nifty Pharma Index upon a close above 200 Wk SMA/channel top
It broke a minor resistance (marked by maroon line) in Jul 2018 but couln't break te channel top and 200 Wk SMA.

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Latest update.

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PHARMA index has made a 50% retracement so far. A bounce confirmation/bottoming out from here could be very rewarding for the mid-term long term traders and investors.