These 5 pharma stocks can fall up to 12% as technical charts flag caution

Abbott India, Aurobindo Pharma, Cipla, Dr Lal PathLabs and Torrent Pharma flag caution signals on technical charts; here are the key levels to watch out for.
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Rex Cano Mumbai
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Abbott India, Aurobindo Pharma, Cipla, Dr Lal PathLabs and Torrent Pharma are the 5 pharma stocks that have flagged a caution signal on the technical charts. Technically, these 5 stocks have seen a negative crossover of the key momentum oscillators like - the Relative Strength Index (RSI), Stochastic Slow or the Moving Average Convergence-Divergence (MACD) on the daily scale. Negative crossover of key momentum oscillators, coupled with violation of key support levels tends to weigh on the stock sentiment. Here's a detailed technical analysis of each of these 5 stocks - Abbott India, Aurobindo Pharma, Cipla, Dr Lal

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Hans India

7 hours ago

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Nifty, Bank Nifty show bullish pattern, hint at possible breakout: Report

A strong bullish candle shaped as an Inside Bar pattern emerged on the charts of both Nifty and Bank Nifty this week, signalling a return of buying interest from lower levels and reflecting the market's underlying strength, a new report said on Sunday. The pattern, often seen as a sign of consolidation followed by potential breakout, suggests that investor sentiment remains optimistic amid supportive technical indicators and favourable market structure, according to Choice Broking. The Nifty index ended the week on a strong note, closing at 25,112.40 with a weekly gain of 1.59 per cent. The index maintained its position above the crucial psychological level of 25,000, pointing to a sideways-to-bullish momentum in the near term. The price action confirms sustained buying on dips, with traders showing confidence in defending key support zones, the report said. Technically, Nifty remains well-positioned above all its major Exponential Moving Averages (EMAs) -- the 20-week, 50-week, and 200-week -- highlighting a strong bullish undertone. The Relative Strength Index (RSI) has also shown upward movement, currently standing at 60.81, which indicates strengthening momentum and potential for further gains, according to the brokerage firm. "As long as the index holds above the 25,000 level, the bias is expected to remain positive, with upside targets in the range of 25,200 to 25,300," the firm stated. "A breakout above 25,300 could open doors for a further rally towards 25,500 and 25,700," it added. Volatility eased during the week, with the India VIX falling by 4.09 per cent to 13.6725, signalling reduced uncertainty and growing investor comfort. "In the derivatives segment, the highest Call Open Interest is observed at the 25,200 and 25,300 strikes, establishing a near-term resistance zone,' the report stated. "On the other hand, the highest Put Open Interest is clustered around 25,000 and 24,800, offering strong downside protection," it added. The Bank Nifty index mirrored a similar trend, gaining 1.31 per cent over the week to close at 56,252.85. The weekly formation of an Inside Bar candlestick pattern, supported by steady trading volumes, reflects ongoing consolidation and positive sentiment. The index managed to stay above the 56,200 mark, suggesting buyers are active on declines, and the structure continues to favour a sideways-to-bullish outlook. The index is trading above its key 20-day, 50-day, and 200-day EMAs, which reinforces the overall uptrend. RSI for Bank Nifty stands at 64.33 and is trending upwards, confirming the strength in underlying momentum. Immediate support is placed at 56,000 and 55,500, while resistance lies in the range of 56,500 to 57,000. A decisive move above this resistance zone could lead to a fresh leg of the rally. Among sectoral drivers, private banks like HDFC Bank and Kotak Bank, along with public sector players such as SBI and Federal Bank, are expected to lend support to any upward move in Bank Nifty. "In the options market, high Put Open Interest at 56,000 and 55,500 confirms these as key support levels, while Call OI at 56,500 and 57,000 highlights the immediate hurdles," as per Choice Broking.

Economic Times

2 days ago

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Gold at a crossroads: Will fed's hawkish pause and Iran conflict spark a $3,400 breakout?

Gold prices are currently under pressure due to the US Federal Reserve's stance on interest rates. This has strengthened the US Dollar. Geopolitical tensions and trade worries offer some support to gold. Spot gold is trading near $3,387. Technical levels to watch include support at $3,322 and resistance at $3,374. Tired of too many ads? Remove Ads Why is gold falling today? The Fed now expects only one rate cut of 25 bps in both 2026 and 2027. This 'hawkish' view supports the US Dollar and pressures gold. Tired of too many ads? Remove Ads Geopolitics and trade tensions still support gold US Senate Intel Chair said Trump wants to give Iran a last chance to end its nuclear program. Trump is reportedly delaying any strikes for about two weeks. Gold price now and key levels to watch Spot gold trades just below $3,350, after falling earlier in the day. Earlier this week, gold touched a nearly 2-month high close to $3,452. The US Dollar pulled back after a recent peak, giving gold slight support. Technical view: Can gold stay above key support? Immediate support: $3,323–$3,322 Next support: $3,300 Key resistance: $3,374–$3,375 Next hurdle: $3,400 Upside target if breakout happens: $3,434–$3,435, then $3,451–$3,452 Major breakout point: $3,500 (psychological level, also near top of ascending channel) What traders should watch next If gold drops below $3,322, it may fall further to $3,300 or even lower. If gold breaks above $3,400, it could aim for $3,435 and even $3,452. A clear move above $3,500 could open the door to test $3,550 or $3,600. RSI is weakening but close to key levels; a move back above 60 would signal strength. Today's focus: Geopolitics and the Fed outlook US–Iran tensions: US officials reportedly preparing strike options; Trump says, 'I may do it. I may not.' Fed signals fewer rate cuts in future years, boosting the Dollar and limiting gold upside. Gold prices are facing selling pressure even though there are some factors that could help support them. The Federal Reserve's tough stance on interest rates is helping the US Dollar and putting pressure on worries and increasing geopolitical tensions may support gold as a safe-haven asset. Gold prices have dropped to their lowest in over a week, trading just below a key level in early European trading. This comes after the Fed recently lowered its forecast for future rate cuts, which boosts the US Dollar and reduces demand for gold, since it doesn't pay is under pressure again even though some factors could support it. Prices are hovering just under $3,350 after falling earlier in the day. Traders are watching global risks and the US Federal Reserve's recent interest rate US Federal Reserve kept interest rates the same but said it now plans fewer rate cuts in 2026 and 2027. This made the US Dollar stronger and reduced demand for gold, which doesn't give any top of that, European stock markets are doing well, which is reducing safe-haven demand for with the pressure, gold still has some support. Rising tensions in the Middle East are worrying investors. The fight between Iran and Israel has now gone on for eight days. There's also speculation that the US may get the same time, US–China trade worries are growing again. Trump has warned of new tariffs on the pharma sector, and more could come before the July 9 'liberation day' tariff kind of uncertainty usually supports gold as a safe has dropped below the 100-period SMA and is testing the lower edge of an ascending channel. Momentum indicators are losing strength, especially on hourly now, gold is trading between $3,322 and $3,400. A clear breakout from this range could set the direction for the coming weeks.

Time of India

2 days ago

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Gold at a crossroads: Will fed's hawkish pause and Iran conflict spark a $3,400 breakout?

Gold prices are currently under pressure due to the US Federal Reserve's stance on interest rates. This has strengthened the US Dollar. Geopolitical tensions and trade worries offer some support to gold. Spot gold is trading near $3,387. Technical levels to watch include support at $3,322 and resistance at $3,374. Tired of too many ads? Remove Ads Why is gold falling today? The Fed now expects only one rate cut of 25 bps in both 2026 and 2027. This 'hawkish' view supports the US Dollar and pressures gold. Tired of too many ads? Remove Ads Geopolitics and trade tensions still support gold US Senate Intel Chair said Trump wants to give Iran a last chance to end its nuclear program. Trump is reportedly delaying any strikes for about two weeks. Gold price now and key levels to watch Spot gold trades just below $3,350, after falling earlier in the day. Earlier this week, gold touched a nearly 2-month high close to $3,452. The US Dollar pulled back after a recent peak, giving gold slight support. Technical view: Can gold stay above key support? Immediate support: $3,323–$3,322 Next support: $3,300 Key resistance: $3,374–$3,375 Next hurdle: $3,400 Upside target if breakout happens: $3,434–$3,435, then $3,451–$3,452 Major breakout point: $3,500 (psychological level, also near top of ascending channel) What traders should watch next If gold drops below $3,322, it may fall further to $3,300 or even lower. If gold breaks above $3,400, it could aim for $3,435 and even $3,452. A clear move above $3,500 could open the door to test $3,550 or $3,600. RSI is weakening but close to key levels; a move back above 60 would signal strength. Today's focus: Geopolitics and the Fed outlook US–Iran tensions: US officials reportedly preparing strike options; Trump says, 'I may do it. I may not.' Fed signals fewer rate cuts in future years, boosting the Dollar and limiting gold upside. Gold prices are facing selling pressure even though there are some factors that could help support them. The Federal Reserve's tough stance on interest rates is helping the US Dollar and putting pressure on worries and increasing geopolitical tensions may support gold as a safe-haven asset. Gold prices have dropped to their lowest in over a week, trading just below a key level in early European trading. This comes after the Fed recently lowered its forecast for future rate cuts, which boosts the US Dollar and reduces demand for gold, since it doesn't pay is under pressure again even though some factors could support it. Prices are hovering just under $3,350 after falling earlier in the day. Traders are watching global risks and the US Federal Reserve's recent interest rate US Federal Reserve kept interest rates the same but said it now plans fewer rate cuts in 2026 and 2027. This made the US Dollar stronger and reduced demand for gold, which doesn't give any top of that, European stock markets are doing well, which is reducing safe-haven demand for with the pressure, gold still has some support. Rising tensions in the Middle East are worrying investors. The fight between Iran and Israel has now gone on for eight days. There's also speculation that the US may get the same time, US–China trade worries are growing again. Trump has warned of new tariffs on the pharma sector, and more could come before the July 9 'liberation day' tariff kind of uncertainty usually supports gold as a safe has dropped below the 100-period SMA and is testing the lower edge of an ascending channel. Momentum indicators are losing strength, especially on hourly now, gold is trading between $3,322 and $3,400. A clear breakout from this range could set the direction for the coming weeks.