Sun Pharma slips back towards its June support

Sun Pharmaceutical Industries Limited,

, has returned to the ₹1,780–₹1,800 region on the four-hour chart, revisiting an area involved in its June base. The decline from August’s peak near ₹2,035 has now retraced a substantial part of the preceding advance. The latest candle has a small body and a lower shadow, with price recovering from ₹1,781.40 to ₹1,794.70. This suggests some buying at lower levels, but the candle’s position within a sequence of falling highs limits its significance. A stronger recovery candle followed by a higher low would provide better evidence that demand is returning. Ichimoku continues to show pressure. The conversion line at ₹1,822.50 is below the base line at ₹1,836.50, and both are moving lower. Price also remains beneath the cloud. These readings suggest that rebounds are still encountering supply before they can change the short-term trend. The first recovery test lies between ₹1,822 and ₹1,837. Sustained four-hour closes above this band would indicate that the immediate selling pressure is easing. Until then, the June support region carries more weight than any isolated green candle. A sustained break below ₹1,780 would expose ₹1,765, followed by the earlier ₹1,735 area. For Sun Pharma’s pharmaceutical business, product launches, regulatory approvals and the performance of its speciality portfolio remain relevant operating factors. They need to be assessed alongside earnings; the falling share price alone does not establish whether business expectations have improved or weakened. The present setup calls for evidence of a base around ₹1,780–₹1,800. Holding that region and recovering ₹1,837 would make the stabilisation case more convincing.