EquityPandit’s Outlook for Sun Pharma for the week  (Oct 22, 2018 – Oct 26, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on positive note gaining around 3.30%.

As we have mentioned last week, that support for the stock lies in the zone of 585 to 590 from where the stock broke out of the highs formed in the month of June-2018 & August-2018 and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 560 to 570 where Fibonacci levels and long term moving averages are lying. During the week the stock manages to hit a low of 587 and close the week around the levels of 610.

Support for the stock lies in the zone of 585 to 590 from where the stock broke out of the highs formed in the month of June-2018 & August-2018 and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 560 to 570 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 615 to 620 where Fibonacci levels and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 640 to 650 where Fibonacci levels are lying.

Broad range for the stock in the coming week can be 570 – 580 on lower side & 640 – 650 on upper side.