Nifty Pharma Analysis

Nifty Pharma Analysis. As on Thurs 18 March 2021. CMP 11,514. Posted at 4:30 pm.

The continued decline in the Pharma index has virtually negated the primary count of last post.

The expanded flat appears to be playing out. Under this count, price would test the 11,000 level.  How much lower price would decline to is difficult to say.

The 11,000 zone has good support, so it could hold.  In case it does not, there is support at roughly 9,600 (wave C = 2.618 times wave A)