Pharma Index is poised to hit a new all-time high in the coming sessions, with a breakout of “Golden Cross”. A bullish pattern in which a shorter moving average converges with a longer moving average, steering a bigger up move in the same direction.
On Monday, pharm index reached a new 52-week high, indicating a robust sentiment. Shares of NATCO Pharma, Granules India and Divi's Laboratories soared close to 2 per cent each.
Here’s the technical outlook amid pharm index witnessing a rally to a new all-time high:-