EquityPandit’s Outlook for Sun Pharma for the week  (Dec 03, 2018 – Dec 07, 2018) : 

SUN PHARMA:

SUN PHARMA closed the week on negative note losing around 6.30%.

As we have mentioned last week, that support for the stock lies in the zone of 500 to 510 from where the stock broke out of May-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 460 to 470 where long term Fibonacci levels and low for the month of June-2018 is lying. During the week the stock manages to hit a low of 475 and close the week around the levels of 493.

Support for the stock lies in the zone of 460 to 470 where long term Fibonacci levels and low for the month of June-2018 is lying. If the stock manages to close below these levels then the stock can drift to the levels of 435 to 440 where low for the month of May-2018 is lying.

Minor resistance for the stock lies in the zone of 500 to 505. Resistance for the stock lies in the zone of 525 to 530 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 550 to 560 where Fibonacci levels and long term moving averages are lying.

Broad range for the stock in the coming week can be 450 – 460 on lower side & 530 – 540 on upper side.