EquityPandit’s Outlook for Sun Pharma for the week  (Aug 07, 2017 – Aug 11, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 8.10%.

As we have mentioned last week that support for the stock lies in the zone of 550 to 555 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 520 to 525 where break out levels for the stock and Fibonacci levels is lying. During the week the stock manages to hit a low of 493 and close the week around the levels of 506.

Support for the stock lies in the zone of 490 to 495 where the stock has formed a bottom in the month of May-2017 and trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can witness a freefall and the stock can drift to the levels of 470 to 475.

Minor resistance for the stock lies in the zone of 520 to 522. Resistance for the stock lies in the zone of 540 to 545 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 560 to 565 from where the stock has broken down from the H & S Pattern.

Broad range for the stock in the coming week can be 470 – 475 on lower side & 540 – 545 on upper side.