EquityPandit’s Outlook for Sun Pharma for the week  (Oct 16, 2017 – Oct 19, 2017) :

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 0.80%.

As we have mentioned last week, that minor support for the stock lies in the zone of 515 to 520. Support for the stock lies in the zone of 500 to 505 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 480 to485. During the week the stock manages to hit a low of 521 and close the week around the levels of 535.

Support for the stock lies in the zone of 515 to 520 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 505 where break out levels are lying.

Resistance for the stock lies in the zone of 545 to 550. If the stock manages to close above these levels then the stock can move to the levels of 580 to 585 where 200 daily moving averages are lying.

Broad range for the stock in the coming week can be 500 – 505 on lower side & 560 – 565 on upper side.