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As we continue to approach the markets on a defensive note, this pharma stock has attempted a strong breakout. The stock is set to move meaningfully higher from its current levels.
Pashupati Advani discusses the resurgence of pharma, challenges in the IT sector, and the future of FMCG stocks. He also comments on HDFC Bank's performance, the EV market, and Avenue Supermarts' growth potential in India. Advani says: ". I think pharma is a sector that we should be proud of as a nation and it is also giving us exports. So why not invest in it as a safety?"
In terms of levels, immediate resistance for Nifty 50 is notable at 22,800, a significant level on higher time frames, with further resistance observed at 23,170 and 23,400.
Sensex was up 20.59 points or 0.03% at 74,248.22, and the Nifty was up 10.80 points or 0.05% at 22,525.50.
The Sensex and Nifty also hit fresh all-time highs of 74,501.73 and 22,619 early in the day but pared some of the gains as the session progressed