Glenmark, Alembic, Cipla: Pharma stocks on a booster dose this December

Select pharma stocks look good on the technical charts and may jump up to 15 per cent in December. On the fundamental side, fears of Omicron variant spreading may also keep them in news and buzzing

Nifty Pharma
Likely target: 14,400
Upside potential: 5%

The index is struggling to sustain above the 200-days moving average (DMA) placed at 13712 levels, according to the daily chart. However, the 50-weekly moving average (WMA) which is located at 13,578 provides a crucial support at the current juncture. As long as the index conquers and hold above the 200-DMA keeping the support at 13,578 levels, it may see a sharp rally towards 14,400 levels over the next few sessions, charts suggest. CLICK HERE