Three Nifty Pharma stocks that can rise up to 10% from the current levels

The year 2018 witnessed three pharma stocks scaling their lifetime high. They are Divi's Laboratories, Biocon and Piramal Enterprises (PEL).

The Nifty Pharma index faces resistance around 200-weighted moving average (WMA) and is consistently trading below April 2017 levels. Its attempt to conquer the level failed as technical indicators entered in overbought region as per the weekly chart. The daily chart indicates trend line resistance on every new rise, coinciding with earlier significant support levels now becoming resistance. 

Here’s a look at how the index and three pharma stocks are likely to perform in the near future - 

NIFTY PHARMA: The immediate support for the index comes at a recent low of 8,417, before the next support of 8,270. In