Nifty Pharma witnesses breakout of consolidation pattern, hits fresh all-time high; Divis Laboratories jumps 9 per cent!

Divi’s Laboratories has witnessed its highest single-day volume since June 18.

On Monday, the Indian benchmark indices have ended their four-day losing streak in a style. Nifty & Sensex have gained more than 1 per cent while the overall market breadth is healthy.   

What’s more striking is the fact that it has witnessed participation from across the board as all the sectoral indices were trading in green. However, the showstopper of the day is Nifty Pharma.   

Nifty Pharma index is up by over 2 per cent and interestingly, the index has witnessed its best single-day gains since August 30. Furthermore, all the constituents of Nifty Pharma were seen trading in green. Also, Nifty Pharma index has witnessed a breakout of 52 trading sessions consoldiation pattern and also, hit a fresh all-time high.   

Divi’s Laboratories turned out to be the top gainer among Nifty Pharma index. The stock jumped 9 per cent on Monday and has witnessed its highest single-day volume since June 18. The price jump along with the above-average volume indicates that the bulls are actively participating in this stock. Furthermore, the stock has also witnessed a long build-up. The stock is up by nearly 37 per cent on a YTD basis and also, hit a fresh all-time high on Monday.