ZYDUSLIFE Hits 2Year High, But Bearish Candle Raises Caution

Zydus Lifesciences touched ₹1,232.10, a two-year high, on September 29, 2026, before closing lower and ending a nine-session winning streak. Key levels: ₹1,232 resistance and ₹1,152 20-day SMA support. Zydus Lifesciences (

) touched ₹1,232.10 on September 29, 2026, marking a fresh two-year high, but the stock ended the session in the red. This also brought an end to its impressive nine-consecutive-session winning streak. On the regulatory front, the USFDA completed a cGMP inspection of Zydus' SEZ II Ahmedabad facility from September 21–28, with one observation and no data-integrity-related observations. Technically, the earlier resistance around ₹1,205 had been decisively crossed during the recent rally. However, after touching the new high, the price moved back toward this breakout zone, making ₹1,205 an important level to monitor. Notably, today's price action formed a Bearish Engulfing candlestick pattern near the top. The day's range completely engulfed the previous session's range, indicating increased selling pressure after the sharp run-up. Conclusion: The ₹1,232 zone now stands out as a key resistance, while the 20-day SMA near ₹1,152 may act as an important support level. The coming sessions will show whether the ₹1,205 breakout zone holds. Disclosure: I do not hold any position or have any financial interest in the mentioned stock.