Sun Pharmaceutical Industries Limited (SUNPHARMA) Stock - Complete Technical Analysis - Dec 12, 2024

Sun Pharma Technical Analysis: Key Support, Resistance & Trend Insights Detailed Stock Review

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. The technical outlook for Sun Pharmaceutical Industries Limited (SUNPHARMA) reveals that the stock is currently trading at 1,805.45, just below its 52-week high of 1,960.35. The stock has shown a solid recovery since its 52-week low of 1,208.55 in December 2023, with a strong rebound in price over the past few months.

Looking at the key technical indicators, SUNPHARMA is showing a somewhat neutral stance in the short term. The Relative Strength Index (RSI) is at 50.12, indicating that the stock is neither overbought nor oversold, which suggests the stock is in a consolidation phase. The MACD is negative, hinting at some short-term bearish pressure, while the stochastic is high, which could signal a potential reversal if the stock crosses key resistance.

Support for the stock lies around the 1,800-1,795 range, while resistance is observed at 1,825, followed by 1,850. Given these levels, traders should watch for a breakout above 1,825 for a possible move towards 1,900 or beyond. Conversely, if the stock drops below the 1,800 support, a pullback towards 1,750 could occur.

The Average True Range (ATR) of the stock suggests moderate volatility, with the stock moving around 100 points per day on average. The tight Bollinger Bands suggest that there is not much immediate volatility, but a breakout could lead to stronger price action. The ADX indicates weak directional strength, meaning traders may need to wait for more confirmation before making larger moves.

Overall, this stock is currently in a phase of consolidation. With moderate momentum and the possibility of either breakout or breakdown, traders should monitor these support and resistance levels closely for entry and exit points.