Signals, Powered By EquityPandit
SUNPHARMA Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the week on negative note losing –1.08%
Sun Pharma Share Price: 525.95 (NSE)
Week High: 541.45
Week Low: 516.80
Week Range: 24.65 Points
Weekly Support & Resistance For Sun Pharmaceutical Industries Ltd:
| RESISTANCE 2 | 597.00 |
| RESISTANCE 1 | 574.55 |
| SUPPORT 1 | 503.15 |
| SUPPORT 2 | 468.00 |
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 574.55 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 @ 468 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 @ 597.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 600 upside and 460 on downside.
On daily chart Sunpharma, stock broke the resistance levels with strong volumes and we can see further buying in the stock, trades should follow the strategy to buy the stock on support levels on correction as overall pharma sector is in super uptrend and overall outperforming the markets.
