EquityPandit’s Outlook for Sun Pharma for the week  (June 11, 2018 – June 15, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 9.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 470 and close the week around the levels of 528.

Support for the stock lies in the zone of 515 to 520 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 490 to 495 where break out levels and short term moving averages are lying.

Resistance for the stock lies in the zone of 530 to 540 where high for the month of May-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 560 to 565 where high for the month of March-2018 is lying.

Broad range for the stock in the coming week can be 490 – 495 on lower side & 565 – 570 on upper side.