On a broader level, commodities have begun to outperform the S&P 500. Goldman Sachs Commodity Index closed above its long-term base, and copper is closing near its highs as it serves as an indicator of global growth.

S&P 500 vs CRB Index

Goldman Sachs Commodity Index

Copper

Nifty Pharma Closed at an all-time high monthly close. Keep an eye on the multi-year base breakout.