EquityPandit’s Outlook for Sun Pharma for the week (February 13, 2017 – February 17, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 655 to 660 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 670 to 675 from where the stock sold off on 15/12/2016. During the week the stock manages to hit a high of 690 and close the week around the levels of 655.

Minor support for the stock lies in the zone of 645 to 650. Support for the stock lies in the zone of 620 to 625 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can drift to the levels of 600 to 610.

Minor resistance for the stock lies in the zone of 655 to 660. Resistance for the stock lies in the zone of 670 to 675 from where the stock sold off on 15/12/2016. If the stock manages to close above these levels then the stock can move to the levels of 690 to 700 from where the stock sold off on 07/12/2016.

Broad range for the stock in the coming week can be 630 – 635 on lower side & 680 – 685 on upper side.