Sun Pharma Advanced Research Company Limited (SPARC) Stock - Complete Technical Analysis - Sep 27, 2024

Sun Pharma Advanced Research: Technical Analysis and Key Levels to Watch

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Analyzing the technical aspects of Sun Pharma Advanced Research Company Limited, currently trading at 212.46, we see that the stock has faced significant selling pressure. The candle pattern today is a Spinning Top, indicating indecision in the market. This suggests a potential reversal or a continuation of the current trend could happen soon.

Key indicators like the MACD are showing bearish momentum, while the RSI is in the oversold territory, signaling that the stock may be undervalued in the short term. The ADX is relatively low, indicating a weak trend. For support, we can consider levels around 206.62 and 196.1, while resistance can be found near 237.97 and 254.59. With the stock trading significantly below its 52-week high of 472.8, there could be potential for a rebound if bullish momentum builds. However, traders should exercise caution given the overall bearish indicators and focus on these critical levels for their trading decisions.