Signals, Powered By EquityPandit
SUNPHARMA Weekly Outlook and Analysis:
For the Week: (Sept 07,2020 – Sept 11,2020)
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the Weekly on negative note losing -7.79%
SunPharma Share Price: 512.45 (NSE)
Weekly High: 561.00
Weekly Low: 506.20
Weekly Range: 54.80 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 below 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 565 upside and 480 on downside.
Pharma Sector as a whole looks overbought and profit booking can be likely in the pharma stocks in the next few weeks, Sunpharma short term outlook is negative and stock must be accumulated only at lower levels near support zone.
