Sun Pharma Outlook for the Week (Sept 04,2020 – Sept 18,2020)


For the Week: (Sept 04,2020 – Sept 18,2020)

5 SUNPHARMA

BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA

Stock closed the Weekly on negative note losing –1.35%

SunPharma Share Price: 505.55 (NSE)

Weekly High: 518.20

Weekly Low: 493.60

Weekly Range: 24.60 Points

Weekly Support & Resistance For Sun Pharma:

RESISTANCE 2 562.00
RESISTANCE 1 549.00
SUPPORT 1 503.00
SUPPORT 2 489.00

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 503 levels, Minor resistance on the upside is capped around 549 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 489 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 562.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 570 upside and 480 on downside.

On Sunpharma, stock has seen profit booking from higher levels and trend for the stock is still intact and stock is forming higher highs and higher lows pattern, Chart structure is bullish and buy around support levels strategy should be followed in the stock.