Business »  Topic »  'Nifty, Bank Nifty likely to breakdown soon; bigger rally seen in pharma, gold, silver'

'Nifty, Bank Nifty likely to breakdown soon; bigger rally seen in pharma, gold, silver'


In case of Pharma index which rallied over 60 percent from its March lows, Gautam Shah feels charts are good and the trend is rock solid.

The market rallied 40 percent from its March lows, backed largely by liquidity and hope of re-opening of economies globally after stringent lockdowns. But, Gautam Shah has a different view.

"The action of last one week looks like the Nifty50 is in a transition phase and the technical setup got weaker now," said the founder and chief strategist at Goldilocks Premium Research in an interview to CNBC-TV18.

He feels 10,500-10,700 looks like ...


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