SMS Pharma continues to maintain a constructive long-term structure, supported by a clear sequence of higher lows and an active rising trendline. The repeated rebounds from key demand zones (green circles) indicate sustained buying interest and suggest that the broader trend remains positive despite recent volatility.
The stock recently tested the ₹400 resistance zone, a historically important supply area that has previously triggered selling pressure. The rejection near this zone (red circles) indicates that sellers remain active at higher levels, making ₹395–₹400 a critical breakout barrier.
Following this rejection, the stock has pulled back toward its rising trendline support, currently placed near ₹360–₹370. This is a technically important zone, as it combines both trendline support and recent price congestion, increasing the probability of demand re-emerging.
The broader price action suggests that the current decline is corrective rather than structural, especially given that the stock continues to hold above the trendline and maintain its higher-low pattern.
Technical Outlook
The stock remains in a healthy uptrend, but near-term direction will largely depend on how it behaves around the trendline support.
A strong hold above ₹360–₹370 could trigger another attempt toward ₹400.
A decisive breakout above ₹400 would strengthen the bullish case and potentially open room for fresh upside momentum.
A breakdown below trendline support would weaken near-term sentiment and may lead to deeper consolidation.
SMS Pharma remains in a bullish long-term setup, with the current correction appearing normal within the broader uptrend. The ₹360–₹370 zone is the key level to monitor, while a breakout above ₹400 would be the next major bullish confirmation.
