EquityPandit’s Outlook for Sun Pharma for the week  (Sep 10, 2018 – Sep 14, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 645 to 655 where long term Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 675 to 680. During the week the stock manages to hit a high of 679 and close the week around the levels of 664.

Minor support for the stock lies around 635 to 645. Support for the stock lies in the zone of 600 to 610 from where the stock broke out of the highs formed in the month of January-2018 and February-2018. If the stock manages to close below these levels then the stock can drift to the levels of 570 to 580 where break out levels and short term moving averages are lying.

Resistance for the stock lies in the zone of 680 to 690 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730.

Broad range for the stock in the coming week can be 620 – 630 on lower side & 690 – 700 on upper side.