Signals, Powered By EquityPandit
SUNPHARMA Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 524715| NSE: SUNPHARMA| ISIN: INE044A01036 | SECTOR: PHARMA
Stock closed the Weekly on positive note gaining +1.03%
Sun Pharma Share Price: 531.35 (NSE)
Weekly High: 550.80
Weekly Low: 519.05
Weekly Range: 31.75 Points
Weekly Support & Resistance For Sun Pharma:
| RESISTANCE 2 | 597.00 |
| RESISTANCE 1 | 574.00 |
| 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 574.00 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 below 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 600 upside and 460 on downside.
On Sunpharma, Stock holds support at long term trend line, overall pharma sector has shown some signs of weakness and profit booking and stock can witness profit booking in the week ahead.
