Sun Pharmaceutical Industries Limited Stock Forecast
Sun Pharmaceutical Industries Limited stock price ended at ₹1,516.25 on Thursday, after losing 0.322%.
(Updated on Jun 27, 2024)
The Sun Pharmaceutical Industries Limited stock price fell by -0.322% on the last day (Thursday, 27th Jun 2024) from ₹1,521.15 to ₹1,516.25. During the last trading day the stock fluctuated 1.53% from a day low at ₹1,505.00 to a day high of ₹1,528.05. The price has risen in 6 of the last 10 days and is up by 0.62% over the past 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately ₹5.88 billion.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹1,520.69 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.77% during the next 3 months and, with a 90% probability hold a price between ₹1,306.57 and ₹1,417.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SUNPHARMA.NS Signals & Forecast
The Sun Pharmaceutical Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹1,497.05 and ₹1,499.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 6.04%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sun Pharmaceutical Industries Limited stock
Sun Pharmaceutical Industries Limited finds support from accumulated volume at ₹1,495.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹23.05 between high and low, or 1.53%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: ₹1,464.23 (-3.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (SUNPHARMA.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Sun Pharmaceutical Industries Limited to open at ₹1,516.43, and during the day (based on 14 day Average True Range), to move between ₹1,485.95 and ₹1,546.55, which gives a possible trading interval of +/-₹30.30 (+/-2.00%) up or down from last closing price. If Sun Pharmaceutical Industries Limited takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,495.10 (1.39%) than the resistance at ₹1,539.30 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sun Pharmaceutical Industries Limited stock A Buy?
Sun Pharmaceutical Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.699 Hold/Accumulate Unchanged
Predicted Opening Price for Sun Pharmaceutical Industries Limited of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
₹1,516.43 ( 0.0121%) | ₹1,516.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUNPHARMA.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1,539.48 | 1.53% |
R2 | 1,530.68 | 0.95% |
R1 | 1,525.24 | 0.593% |
Price | 1,516.25 | |
S1 | 1,507.63 | -0.569% |
S2 | 1,502.19 | -0.93% |
S3 | 1,493.38 | -1.51% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1,620.55 | 6.88% |
R2 | 1,540.00 | 1.57% |
R1 | 1,539.30 | 1.52% |
Price | 1,516.25 | |
S1 | 1,495.10 | -1.39% |
S2 | 1,484.65 | -2.08% |
S3 | 1,459.80 | -3.72% |
SUNPHARMA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 12, 2024 | Jul 12, 2024 | Aug 16, 2024 | ₹5.00 | 0.330% |
2 | Feb 09, 2024 | Feb 09, 2024 | Feb 23, 2024 | ₹8.50 | 0.544% |
3 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | ₹4.00 | 0.351% |
4 | Feb 08, 2023 | Feb 08, 2023 | Feb 08, 2023 | ₹7.50 | 0.740% |
5 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | ₹3.00 | 0.333% |
FAQ
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