Sun Pharma’s share price by 2 % after a strong session. Is 1800 dollars again on the table?
Sun Pharmaceutical Industries (NSE: Sunpharma) gained 2.03 % on Wednesday, prompting shares back about $ 1700 and reviving upward attention after weeks of restricted movement. The bounce comes in time completely, with the stability of broader markets and the merchants again to defensive names.
The march follows a relatively quiet extension of Sun Pharma, as the arrow fell from its highest level in April over $ 1850. But the payment signals today that buyers are returning near the lower end of the short-term channel, are now consisting of $ 1,680-1700 now as a major battle.
Sun Pharma Technical expectations: A liar of support
The graph shows a strong recovery from $ 1650, which served in early May. While the larger direction is still optimistic, the measures taken by the recent prices were unified, not corrective.
- RSI at 45.69, indicating healing from excessive sale lands
- MACD is still less than scratch, but the gap is narrow – an early sign of the transformation of momentum
- Immediate resistance is now $ 1,740, followed by a larger test at $ 1,800
- Support returns to $ 1,660, with a deeper request near $ 1620 if weakened
The daily structure began to tilted the top again, but the bulls still need a decisive break above $ 1740 to summon this more than the relief process.
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Sun Pharma Phare PRICE expectations: Room to recover 1800 dollars?
The momentum looks better than it was a week ago. If Sun Pharma managed to close above $ 1,740 this week, the path is about 1800 dollars open quickly. Moreover, re -testing the highest level in April near $ 1850 is not away from the table, but this depends on the participation of the wider sector and the new institutional purchase.
Currently, this apostasy appears to be the beginning of recovery, not outbringing. But in a market in Pharma, Sun began to feel appropriate again.
