- The Nifty Pharma Index opened the recent week around 24,008 and witnessed strong buying momentum, closing higher near 24,635, indicating renewed strength in the pharma space. The index has successfully broken above the key resistance zone near 23,700–24,000, suggesting fresh accumulation and continuation of the broader uptrend.
- On the weekly chart, the index continues to trade above its key moving averages, reflecting a strong bullish structure in the medium-term trend. The formation of a strong bullish candle near breakout territory highlights sustained buying interest from market participants. Additionally, the RSI has surged above the 70 mark, indicating strong momentum and improved price strength, although the index is approaching overbought territory.
- From a technical perspective, the near-term outlook remains bullish with positive momentum likely to continue. Immediate support is placed around 23,700–23,200, while resistance levels are seen near 25,000 and 25,500, which may act as key supply zones in the coming sessions.
| Outperformers | Underperformers |
|---|---|
| BIOCON, LAURUSLABS | LUPIN, WOCKPHARMA |
NIFTY HEALTHCARE
Date: 18-May-2026
- The Nifty Healthcare Index opened the recent week around 15,349 and witnessed sustained buying momentum, closing higher near 15,752, indicating continued strength in the healthcare space. The index has decisively broken above the key resistance zone near 15,000–15,100, suggesting fresh accumulation and continuation of the broader uptrend.
- On the weekly chart, the index continues to trade above its major moving averages, reflecting a strong bullish market structure. The formation of a strong bullish candle near lifetime-high territory highlights aggressive buying interest from market participants. Additionally, the RSI has surged above the 70 mark, indicating strong momentum and improving price strength, though the index is entering overbought territory.
- From a technical perspective, the near-term outlook remains bullish with positive momentum likely to continue. Immediate support is placed around 15,000–14,700, while resistance levels are seen near 16,000 and 16,500, which may act as key supply zones in the coming sessions.
| Outperformers | Underperformers |
|---|---|
| BIOCON, LAURUSLABS | PPLPHARMA, LUPIN |
NIFTY IT
Date: 18-May-2026
- The Nifty IT Index opened the recent week around 29,323 and witnessed intense selling pressure, closing sharply lower near 27,717, reflecting significant weakness across the IT space. The index has broken below its crucial support zone near 30,000, indicating deterioration in sentiment and continuation of the prevailing downtrend.
- On the weekly chart, the index is trading well below its key moving averages, signaling a strong bearish market structure. The formation of a large bearish candle after repeated rejection near resistance levels highlights aggressive selling by market participants. Additionally, the RSI has slipped below the 30 mark, indicating weak momentum and oversold conditions in the near term.
- From a technical perspective, the near-term outlook remains bearish, although the oversold RSI may trigger a short-term relief bounce. Immediate support is placed around 27,000–26,500, while resistance levels are seen near 30,000 and 32,000, which may act as strong supply zones on any recovery attempt.
| Outperformers | Underperformers |
|---|---|
| - | LTM, PERSISTENT |
NIFTY REALTY
Date: 18-May-2026
- The Nifty Realty Index opened the recent week around 819 and witnessed strong selling pressure, closing sharply lower near 756, reflecting continued weakness in the real estate segment. The index has failed to sustain above its key breakout zone and slipped back below important resistance levels, indicating deterioration in near-term sentiment and continuation of the broader corrective trend.
- On the weekly chart, the index is trading below its key short- and medium-term moving averages, signaling a weak technical structure. The formation of a strong bearish candle near the falling trend line resistance highlights persistent selling pressure at higher levels. Additionally, the RSI is hovering around the 45 mark, indicating subdued momentum despite intermittent pullback attempts.
- From a technical perspective, the near-term outlook remains cautious to bearish unless the index sustains above the 790–800 zone. Immediate support is placed around 720–700, while resistance levels are seen near 790 and 840, which may act as strong supply zones on any recovery attempt.
| Outperformers | Underperformers |
|---|---|
| - | ABREL, ANANTRAJ |
Sector Performance
WAHID MOHD HUSSAIN ANSARI
Digitally signed by WAHID MOHD HUSSAIN ANSARI Date: 2026.05.18 08:54+05:30
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