Sun Pharma Advanced Research Company Limited (SPARC) Stock - Complete Technical Analysis - Dec 17, 2024

Sun Pharma Advanced Research (SPARC) Stock Technical Analysis: Key Levels & Trends Dec 2024

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. Sun Pharma Advanced Research Company Limited (SPARC) has shown significant price fluctuations recently, with a notable surge to 241.00 before closing at 230.71 on December 16, 2024. The stock is trading about 51% lower than its 52-week high and 21.6% above its 52-week low. This indicates a somewhat volatile price pattern.

Key technical indicators like the RSI (Relative Strength Index) and Awesome Oscillator suggest short-term bullish momentum, but the stock faces strong resistance around the 235 level, as indicated by multiple moving averages and pivot points. If the stock manages to break above this resistance, it could indicate further upward movement. However, if it drops below 215, it might head lower, potentially toward 200-210.

The Average Directional Index (ADX) suggests a weak trend overall, indicating indecision. Traders should monitor SPARC's ability to break key resistance levels for potential bullish reversals, while being aware of its volatile nature. The ATR (Average True Range) points to increasing volatility, so price swings may be more frequent. With weak fundamentals, including negative ROE and ROCE, SPARC's short-term price movements become a focus for traders, looking to capitalize on the volatility rather than rely on long-term growth.