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

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 4.20%.

As we have mentioned last week, that minor support for the stock lies in the zone of 540 to 545. Support for the stock lies in the zone of 520 to 525 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. During the week the stock manages to hit a low of 513 and close the week around the levels of 528.

Support for the stock lies in the zone of 520 to 525 where Fibonacci levels and short & 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.

Minor resistance for the stock lies in the zone of 540 to 545. Resistance for the stock lies in the zone of 565 to 575 from where the stock sold off in the month of July-2017. If the stock manages to close above these levels then the stock can move to the levels of 585 to 590 where 200 daily moving averages are lying.

Broad range for the stock in the coming week can be 500 – 505 on lower side & 550 – 555 on upper side.