The negative candle had a minor upper and lower shadow. Technically, such a candle indicates a completion of recent uptrend and a beginning of short term downward correction from the high according to Nagaraj Shetti of HDFC Securities.
Nifty Pharma, 4 others hit 52-week high since Iran war while Nifty fell 7%. Will the form continue?
Despite a challenging market backdrop fueled by geopolitical tensions and foreign fund outflows, five Indian sectors—Pharma, Energy, Defence, Capital Markets, and Metals—are showing remarkable strength.