EquityPandit’s Outlook for Sun Pharma for the week  (June 04, 2018 – June 08, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 3.80%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 472 to 475. Resistance for the stock lies in the zone of 490 to 495 from where the stock broke down from triple bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 505 to 510 from where the stock broke down from April-2018 low. During the week the stock manages to hit a high of 510 and close the week around the levels of 484.

Minor support for the stock lies in the zone of 472 to 475. Support for the stock lies in the zone of 460 to 465 where the stock has taken support in the month of September-2017. If the stock manages to close below these levels then the stock can drift to the levels of 430 to 435 where the stock has formed a bottom in the month of August-2017.

Resistance for the stock lies in the zone of 490 to 495 from where the stock broke down from triple bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 505 to 510 from where the stock broke down from April-2018 low.

Broad range for the stock in the coming week can be 460 – 465 on lower side & 505 – 510 on upper side.