EquityPandit’s Outlook for Sun Pharma for the week  (Feb 12, 2018 – Feb 16, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 5.70%.

As we have mentioned last week, that support for the stock lies in the zone of 545 to 550 where break out levels and short & 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 530 to 535 from where the stock broke out after consolidation. During the week the stock manages to hit a low of 531 and close the week around the levels of 583.

Minor support for the stock lies in the zone of 565 to 570. Support for the stock lies in the zone of 545 to 550 where break out levels and short & 200 daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 530 to 535 from where the stock broke out after consolidation.

Resistance for the stock lies in the zone of 590 to 600 where the stock has formed a top in the month of July-2017 and January-2018. If the stock manages to close above these levels then the stock can move to the levels of 615 to 620 from where the stock has broken down in the month of May-2017.

Broad range for the stock in the coming week can be 550 – 555 on lower side & 615 – 620 on upper side.