Cipla, Biocon, Divi's Lab: Pharma stocks to bet on in the current market

Cipla may see profit-booking around Rs 360 to Rs 367 levels, as per the weekly chart.

Pharma stocks have been the flavour of the season ever since the outbreak of the Coronavirus (Covid-19). According to a report by Business Standard, despite a nationwide lockdown that disrupted the distribution of drugs across the country and fresh prescription generation, pharmaceutical sales in March registered an 8.9 per cent growth. This was primarily on account of panic buying of medicines in the chronic categories. As a result, shares of pharma companies, too, witnessed an upswing.

Here's a look at how the Nifty Pharma index and key pharma stocks look on technical charts and how you should trade them -