Buying demand has emerged from the 52-week EMA, which has historically acted as an incremental buying opportunity on multiple occasions (currently at Rs 2,430), which also confluences with the rising demand line joining lows since January 2021, it added.
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.